FY2024 EPS Forecast for Argo Blockchain Increased by Analyst

Argo Blockchain plc (NASDAQ:ARBK) – Investment analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for shares of Argo Blockchain in a report issued on Thursday, November 21st. HC Wainwright analyst K. Dede now expects that the company will post earnings of ($0.78) per share for the year, up from their prior estimate of ($0.87). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for Argo Blockchain’s current full-year earnings is ($0.69) per share. HC Wainwright also issued estimates for Argo Blockchain’s Q4 2024 earnings at ($0.14) EPS and FY2025 earnings at ($0.44) EPS.

Argo Blockchain Price Performance

Shares of NASDAQ ARBK opened at $1.06 on Monday. Argo Blockchain has a twelve month low of $1.02 and a twelve month high of $4.45. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 5.06. The company has a market capitalization of $67.45 million, a price-to-earnings ratio of -1.49 and a beta of 1.88. The business has a 50 day simple moving average of $1.18 and a 200-day simple moving average of $1.26.

Argo Blockchain (NASDAQ:ARBK) last issued its quarterly earnings results 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). Argo Blockchain had a negative net margin of 92.08% and a negative return on equity of 4,172.69%. The firm had revenue of $12.42 million during the quarter, compared to the consensus estimate of $13.40 million.

Institutional Investors Weigh In On Argo Blockchain

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Argo Blockchain in the 2nd quarter valued at approximately $49,000. XTX Topco Ltd acquired a new position in Argo Blockchain during the 2nd quarter valued at approximately $28,000. 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 purchasing an additional 810,559 shares during the period. Finally, Virtu Financial LLC acquired a new position in Argo Blockchain during the 3rd quarter valued at approximately $28,000. 2.42% of the stock is currently 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.