Argo Blockchain (NASDAQ:ARBK) Rating Increased to Hold at Wall Street Zen

Argo Blockchain (NASDAQ:ARBK) was upgraded by Wall Street Zen to a “hold” rating in a research note issued on Saturday.

ARBK has been the subject of several other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Argo Blockchain in a report on Wednesday, October 8th. HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Argo Blockchain Price Performance

Shares of NASDAQ ARBK opened at $6.87 on Friday. The stock has a fifty day moving average price of $77.02 and a 200 day moving average price of $71.68. Argo Blockchain has a 1-year low of $6.24 and a 1-year high of $205.20. The company has a market cap of $495.12 million, a PE ratio of -7.08 and a beta of 1.83.

Argo Blockchain (NASDAQ:ARBK) last announced its quarterly earnings data on Tuesday, September 30th. The company reported ($10.80) EPS for the quarter. The business had revenue of $3.14 million for the quarter. Analysts anticipate that Argo Blockchain will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Argo Blockchain

A hedge fund recently bought a new stake in Argo Blockchain stock. Armistice Capital LLC bought a new position in shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter. Institutional investors 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.