Brokers Offer Predictions for Argo Blockchain plc’s Q2 2022 Earnings (NASDAQ:ARBK)

Argo Blockchain plc (NASDAQ:ARBKGet Rating) – Analysts at DA Davidson issued their Q2 2022 earnings per share estimates for shares of Argo Blockchain in a report released on Friday, May 20th. DA Davidson analyst C. Brendler anticipates that the company will earn $0.28 per share for the quarter. DA Davidson also issued estimates for Argo Blockchain’s FY2023 earnings at $3.27 EPS.

A number of other analysts have also issued reports on ARBK. Compass Point lifted their price target on Argo Blockchain from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, March 8th. Barclays reduced their price objective on Argo Blockchain from $22.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, March 14th. Zacks Investment Research downgraded Argo Blockchain from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. HC Wainwright reduced their price objective on Argo Blockchain from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus assumed coverage on Argo Blockchain in a research report on Friday, March 25th. They set a “hold” rating and a $11.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $18.78.

Shares of NASDAQ:ARBK opened at $5.80 on Monday. The company has a quick ratio of 2.85, a current ratio of 2.39 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average price is $8.26 and its 200-day moving average price is $11.02. Argo Blockchain has a 1 year low of $5.39 and a 1 year high of $21.00.

A number of large investors have recently bought and sold shares of ARBK. Caas Capital Management LP purchased a new stake in shares of Argo Blockchain in the 3rd quarter valued at $6,400,000. Van ECK Associates Corp raised its holdings in shares of Argo Blockchain by 93.9% in the first quarter. Van ECK Associates Corp now owns 365,324 shares of the company’s stock worth $3,602,000 after acquiring an additional 176,951 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Argo Blockchain in the third quarter worth $3,340,000. Third Point LLC acquired a new position in shares of Argo Blockchain in the third quarter worth $1,600,000. Finally, Renaissance Technologies LLC grew its position in shares of Argo Blockchain by 632.0% in the first quarter. Renaissance Technologies LLC now owns 89,300 shares of the company’s stock valued at $880,000 after purchasing an additional 77,100 shares during the period. Institutional investors own 1.57% of the company’s stock.

About Argo Blockchain (Get Rating)

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017. Argo Blockchain plc was incorporated in 2017 and is headquartered in London, the United Kingdom.

Further Reading

Earnings History and Estimates for Argo Blockchain (NASDAQ:ARBK)

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