Brokers Offer Predictions for Argo Blockchain plc’s Q2 2022 Earnings (NASDAQ:ARBK)

Argo Blockchain plc (NASDAQ:ARBKGet Rating) – Research analysts at DA Davidson issued their Q2 2022 earnings estimates for shares of Argo Blockchain in a report released on Friday, May 20th. DA Davidson analyst C. Brendler anticipates that the company will post earnings per share of $0.28 for the quarter. DA Davidson also issued estimates for Argo Blockchain’s FY2023 earnings at $3.27 EPS.

ARBK has been the subject of several other reports. Zacks Investment Research downgraded shares of Argo Blockchain from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Stifel Nicolaus began coverage on shares of Argo Blockchain in a research note on Friday, March 25th. They set a “hold” rating and a $11.00 price objective for the company. HC Wainwright lowered their price objective on shares of Argo Blockchain from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday. Compass Point upped their price objective on shares of Argo Blockchain from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, March 8th. Finally, Canaccord Genuity Group reduced their price target on shares of Argo Blockchain from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $18.78.

NASDAQ ARBK opened at $5.80 on Monday. Argo Blockchain has a 52-week low of $5.39 and a 52-week high of $21.00. The company has a quick ratio of 2.85, a current ratio of 2.39 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $8.26 and a 200-day moving average of $11.02.

Several hedge funds and other institutional investors have recently modified their holdings of ARBK. Scotia Capital Inc. bought a new position in Argo Blockchain during the first quarter valued at approximately $107,000. Kestra Advisory Services LLC bought a new position in Argo Blockchain in the fourth quarter worth approximately $141,000. Renaissance Technologies LLC purchased a new stake in shares of Argo Blockchain in the fourth quarter worth $148,000. Connective Portfolio Management LLC purchased a new stake in shares of Argo Blockchain in the fourth quarter worth $159,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Argo Blockchain in the third quarter worth $287,000. Hedge funds and other institutional investors own 1.57% of the company’s stock.

About Argo Blockchain (Get Rating)

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017. Argo Blockchain plc was incorporated in 2017 and is headquartered in London, the United Kingdom.

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Earnings History and Estimates for Argo Blockchain (NASDAQ:ARBK)

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