Argo Blockchain (NASDAQ:ARBK) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Argo Blockchain (NASDAQ:ARBK) to a sell rating in a research note published on Saturday morning.

Several other research analysts also recently weighed in on the stock. HC Wainwright restated a “neutral” rating on shares of Argo Blockchain in a report on Friday, October 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Argo Blockchain in a report on Wednesday. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Argo Blockchain Trading Down 9.5%

ARBK opened at $0.55 on Friday. The company’s fifty day moving average price is $0.32 and its two-hundred day moving average price is $0.35. Argo Blockchain has a 1-year low of $0.15 and a 1-year high of $1.55. The company has a market cap of $39.80 million, a price-to-earnings ratio of -0.57 and a beta of 1.75.

Institutional Trading of Argo Blockchain

A hedge fund recently bought a new stake in Argo Blockchain stock. Armistice Capital LLC bought a new stake in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned about 6.17% of Argo Blockchain at the end of the most recent reporting period. Institutional investors and hedge funds own 2.42% of the company’s stock.

About Argo Blockchain

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.