HC Wainwright Reiterates “Neutral” Rating for Argo Blockchain (NASDAQ:ARBK)

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

Argo Blockchain Stock Performance

ARBK opened at $1.17 on Thursday. The firm’s fifty day simple moving average is $1.18 and its two-hundred day simple moving average is $1.26. Argo Blockchain has a 52-week low of $1.02 and a 52-week high of $4.45. The company has a market cap of $74.45 million, a price-to-earnings ratio of -1.63 and a beta of 1.88. The company has a quick ratio of 0.65, a current ratio of 0.52 and a debt-to-equity ratio of 5.06.

Argo Blockchain (NASDAQ:ARBK) last posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.12). Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 92.08%. The firm had revenue of $12.42 million during the quarter, compared to analyst estimates of $13.40 million. Equities analysts anticipate that Argo Blockchain will post -0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.