Argo Blockchain (NASDAQ:ARBK) Stock Rating Upgraded by Wall Street Zen

Argo Blockchain (NASDAQ:ARBK) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a report released on Saturday.

A number of other equities analysts have also commented on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of Argo Blockchain in a research note on Friday, October 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Argo Blockchain in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Argo Blockchain presently has a consensus rating of “Sell”.

Argo Blockchain Stock Down 77.6%

NASDAQ:ARBK opened at $6.87 on Friday. The stock has a fifty day simple moving average of $77.02 and a 200 day simple moving average of $71.42. The firm has a market capitalization of $2.27 million, a price-to-earnings ratio of -0.03 and a beta of 1.83. Argo Blockchain has a 1-year low of $6.24 and a 1-year high of $205.20.

Argo Blockchain (NASDAQ:ARBK) last posted its quarterly earnings data on Tuesday, September 30th. The company reported ($10.80) EPS for the quarter. The business had revenue of $3.14 million for the quarter. Equities analysts predict that Argo Blockchain will post -0.78 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Argo Blockchain stock. Armistice Capital LLC bought a new position in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned approximately 6.17% of Argo Blockchain as of its most recent SEC filing. Institutional investors own 2.42% of the company’s stock.

Argo Blockchain Company Profile

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. It engages in mining purpose-built computers for complex cryptographic algorithms. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017.