HC Wainwright Lowers Argo Blockchain (NASDAQ:ARBK) to Neutral

HC Wainwright cut shares of Argo Blockchain (NASDAQ:ARBK) from a buy rating to a neutral rating in a research report report published on Friday morning, MarketBeat.com reports.

Separately, Canaccord Genuity Group reaffirmed a hold rating and set a $1.45 price target on shares of Argo Blockchain in a research report on Thursday, March 28th.

Argo Blockchain Stock Performance

Shares of Argo Blockchain stock opened at $1.52 on Friday. Argo Blockchain has a 12-month low of $0.92 and a 12-month high of $4.45. The business’s 50 day moving average is $1.80 and its 200-day moving average is $1.86.

Institutional Trading of Argo Blockchain

An institutional investor recently raised its position in Argo Blockchain stock. Redwood Wealth Management Group LLC grew its stake in Argo Blockchain plc (NASDAQ:ARBK) by 33.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,755 shares of the company’s stock after purchasing an additional 19,300 shares during the quarter. Redwood Wealth Management Group LLC owned approximately 0.13% of Argo Blockchain worth $287,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.42% of the company’s stock.

Argo Blockchain Company Profile

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.