Keefe, Bruyette & Woods Begins Coverage on Argo Blockchain (NASDAQ:ARBK)

Stock analysts at Keefe, Bruyette & Woods assumed coverage on shares of Argo Blockchain (NASDAQ:ARBK) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm set an “underperform” rating on the stock.

Separately, HC Wainwright restated a “neutral” rating on shares of Argo Blockchain in a research note on Thursday, November 21st.

Argo Blockchain Stock Down 4.2 %

Shares of NASDAQ:ARBK opened at $0.63 on Wednesday. Argo Blockchain has a 52-week low of $0.52 and a 52-week high of $3.13. The company has a debt-to-equity ratio of 5.06, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $39.80 million, a P/E ratio of -0.87 and a beta of 1.97. The stock has a 50 day moving average price of $0.90 and a 200-day moving average price of $1.12.

Institutional Investors Weigh In On Argo Blockchain

Several large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd grew its stake in Argo Blockchain by 144.5% in the third quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock worth $72,000 after purchasing an additional 35,118 shares in the last quarter. Jane Street Group LLC boosted its position in Argo Blockchain by 488.7% during the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after acquiring an additional 810,559 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Argo Blockchain during the 2nd quarter valued at $49,000. Finally, Virtu Financial LLC purchased a new stake in shares of Argo Blockchain during the 3rd quarter valued at $28,000. 2.42% of the stock is owned by institutional investors.

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.