Argo Blockchain (NASDAQ:ARBK) Given “Neutral” Rating at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Argo Blockchain (NASDAQ:ARBK) in a research report sent to investors on Friday morning, Benzinga reports.

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

Argo Blockchain Price Performance

Shares of NASDAQ ARBK opened at $1.37 on Friday. The company has a market capitalization of $79.13 million, a PE ratio of -2.49 and a beta of 2.01. The firm has a fifty day simple moving average of $1.53 and a 200 day simple moving average of $1.90. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 305.04. Argo Blockchain has a twelve month low of $0.92 and a twelve month high of $4.45.

Institutional Trading of Argo Blockchain

Several institutional investors and hedge funds have recently modified their holdings of the business. Catalina Capital Group LLC bought a new stake in shares of Argo Blockchain in the first quarter worth about $28,000. Redwood Wealth Management Group LLC lifted its position in Argo Blockchain by 33.6% during the fourth quarter. Redwood Wealth Management Group LLC now owns 76,755 shares of the company’s stock valued at $287,000 after purchasing an additional 19,300 shares during the period. Chesapeake Capital Corp IL purchased a new stake in shares of Argo Blockchain during the 4th quarter valued at about $132,000. Finally, Vident Advisory LLC grew its position in shares of Argo Blockchain by 108.5% during the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock valued at $3,655,000 after acquiring an additional 876,406 shares during the period. 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.