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

HC Wainwright reissued their neutral rating on shares of Argo Blockchain (NASDAQ:ARBK) in a research note released on Thursday morning, Benzinga reports.

Argo Blockchain Stock Down 2.3 %

ARBK stock opened at $1.25 on Thursday. The stock has a market capitalization of $72.20 million, a P/E ratio of -2.66 and a beta of 1.90. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.65 and a quick ratio of 0.65. Argo Blockchain has a 1-year low of $0.94 and a 1-year high of $4.45. The business has a fifty day moving average price of $1.31 and a 200-day moving average price of $1.53.

Argo Blockchain (NASDAQ:ARBK) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.12). The company had revenue of $12.42 million during the quarter, compared to the consensus estimate of $13.40 million. Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 54.06%. Equities analysts forecast that Argo Blockchain will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vident Advisory LLC lifted its stake in shares of Argo Blockchain by 108.5% in the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock worth $3,655,000 after purchasing an additional 876,406 shares during the period. Cubist Systematic Strategies LLC bought a new position in Argo Blockchain in the second quarter worth approximately $49,000. Chesapeake Capital Corp IL purchased a new position in shares of Argo Blockchain during the 4th quarter worth $132,000. XTX Topco Ltd bought a new stake in shares of Argo Blockchain during the 2nd quarter valued at $28,000. Finally, Catalina Capital Group LLC bought a new stake in shares of Argo Blockchain during the 1st quarter valued at $28,000. Institutional investors own 2.42% of the company’s stock.

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.