Argo Blockchain (NASDAQ:ARBK) Earns “Neutral” Rating from HC Wainwright

Argo Blockchain (NASDAQ:ARBK)‘s stock had its “neutral” rating restated by stock analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports.

Argo Blockchain Trading Up 4.5 %

Shares of ARBK opened at $1.17 on Thursday. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.43 and a quick ratio of 0.65. The firm has a 50 day simple moving average of $1.18 and a 200-day simple moving average of $1.27. Argo Blockchain has a 1-year low of $1.02 and a 1-year high of $4.45. The stock has a market cap of $74.45 million, a price-to-earnings ratio of -1.45 and a beta of 1.88.

Argo Blockchain (NASDAQ:ARBK) last issued its quarterly earnings data on Wednesday, August 28th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.12). The business had revenue of $12.42 million for the quarter, compared to analysts’ expectations of $13.40 million. Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 93.70%. Equities analysts forecast that Argo Blockchain will post -0.74 EPS for the current fiscal year.

Institutional Trading of Argo Blockchain

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Argo Blockchain in the 2nd quarter worth approximately $28,000. Virtu Financial LLC acquired a new position in shares of Argo Blockchain in the 3rd quarter valued at $28,000. Cubist Systematic Strategies LLC acquired a new position in shares of Argo Blockchain in the 2nd quarter valued at $49,000. Finally, Jane Street Group LLC boosted its holdings in shares of Argo Blockchain by 488.7% in the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after purchasing an additional 810,559 shares during the last quarter. 2.42% of the stock is 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.