Argo Blockchain (NASDAQ:ARBK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Argo Blockchain (NASDAQ:ARBK) from a sell rating to a hold rating in a research report released on Saturday.

ARBK has been the subject of several other reports. HC Wainwright reaffirmed a “neutral” rating on shares of Argo Blockchain in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Argo Blockchain in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Argo Blockchain Price Performance

NASDAQ ARBK opened at $0.45 on Friday. Argo Blockchain has a 1-year low of $0.15 and a 1-year high of $1.55. The company has a market capitalization of $32.63 million, a P/E ratio of -0.47 and a beta of 1.75. The business has a 50 day moving average price of $0.37 and a 200 day moving average price of $0.36.

Institutional Investors Weigh In On Argo Blockchain

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

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.