Argo Blockchain plc (NASDAQ:ARBK – Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 65,000 shares, a decline of 38.1% from the August 15th total of 105,000 shares. Based on an average daily volume of 450,200 shares, the short-interest ratio is presently 0.1 days.
Argo Blockchain Stock Down 3.6 %
Shares of ARBK opened at $1.08 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.49 and a debt-to-equity ratio of 11.53. Argo Blockchain has a fifty-two week low of $0.36 and a fifty-two week high of $4.80. The firm’s 50 day moving average price is $1.36 and its 200 day moving average price is $1.41.
Argo Blockchain (NASDAQ:ARBK – Get Free Report) last issued its earnings results on Tuesday, August 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.04. The company had revenue of $12.56 million during the quarter, compared to analyst estimates of $12.51 million. As a group, analysts predict that Argo Blockchain will post -0.63 EPS for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Compass Point reduced their target price on shares of Argo Blockchain from $3.75 to $2.75 and set a “buy” rating on the stock in a research note on Wednesday, August 30th. HC Wainwright reaffirmed a “buy” rating and set a $2.50 target price on shares of Argo Blockchain in a research note on Wednesday, August 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Argo Blockchain currently has an average rating of “Hold” and an average target price of $2.75.
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.
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