Argo Blockchain (NASDAQ:ARBK) Given Neutral Rating at HC Wainwright

HC Wainwright restated their neutral rating on shares of Argo Blockchain (NASDAQ:ARBK) in a research note issued to investors on Friday morning,Benzinga reports.

Separately, Wall Street Zen upgraded shares of Argo Blockchain to a “hold” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Argo Blockchain Stock Up 23.6%

Shares of NASDAQ ARBK opened at $0.42 on Friday. Argo Blockchain has a 12-month low of $0.15 and a 12-month high of $1.55. The firm’s 50-day simple moving average is $0.29 and its 200 day simple moving average is $0.34. The company has a market cap of $30.13 million, a price-to-earnings ratio of -0.43 and a beta of 1.75.

Hedge Funds Weigh In On Argo Blockchain

An institutional investor recently bought a new position in Argo Blockchain stock. Armistice Capital LLC bought a new position in shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned 6.17% of Argo Blockchain at the end of the most recent quarter. Institutional investors and hedge funds 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.