Argo Blockchain (NASDAQ:ARBK) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.
According to Zacks, “Argo Blockchain Plc provides sustainable blockchain infrastructure and cryptocurrency mining. Argo Blockchain Plc is headquartered in London, UK. “
Several other research firms also recently commented on ARBK. Roth Capital began coverage on Argo Blockchain in a research note on Monday, November 1st. They issued a “buy” rating and a $27.00 price objective on the stock. initiated coverage on Argo Blockchain in a research note on Monday, October 18th. They issued a “buy” rating and a $24.00 price objective on the stock. Barclays initiated coverage on Argo Blockchain in a research report on Monday, October 18th. They set an “overweight” rating and a $22.00 target price for the company. Jefferies Financial Group began coverage on Argo Blockchain in a research report on Monday, October 18th. They set a “buy” rating and a $30.00 target price for the company. Finally, DA Davidson restated a “buy” rating on shares of Argo Blockchain in a report on Tuesday, October 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Argo Blockchain currently has a consensus rating of “Buy” and a consensus price target of $23.00.
ARBK stock traded up $0.78 during trading on Monday, reaching $10.14. The stock had a trading volume of 6,345 shares, compared to its average volume of 297,842. Argo Blockchain has a 52 week low of $7.90 and a 52 week high of $21.00. The firm’s 50 day moving average is $13.11.
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Argo Blockchain (NASDAQ:ARBK) last posted its quarterly earnings data on Monday, November 1st. The company reported $0.40 EPS for the quarter. The company had revenue of $25.98 million during the quarter. On average, sell-side analysts anticipate that Argo Blockchain will post 1.35 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. Caas Capital Management LP acquired a new position in shares of Argo Blockchain in the 3rd quarter valued at about $6,400,000. MMCAP International Inc. SPC acquired a new position in Argo Blockchain in the 3rd quarter worth about $5,200,000. Millennium Management LLC acquired a new position in shares of Argo Blockchain during the third quarter valued at approximately $3,340,000. Teacher Retirement System of Texas acquired a new position in shares of Argo Blockchain during the third quarter valued at approximately $3,200,000. Finally, Van ECK Associates Corp acquired a new position in shares of Argo Blockchain during the fourth quarter valued at approximately $2,291,000. Institutional investors and hedge funds own 4.02% of the company’s stock.
About Argo Blockchain
Argo Blockchain Plc provides sustainable blockchain infrastructure and cryptocurrency mining. Argo Blockchain Plc is headquartered in London, UK.
Further Reading: Trade Deficit
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