Argo Blockchain (NASDAQ:ARBK) Downgraded by HC Wainwright to Neutral

HC Wainwright lowered shares of Argo Blockchain (NASDAQ:ARBK) from a buy rating to a neutral rating in a research note published on Friday, Marketbeat.com reports.

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

Argo Blockchain Stock Performance

Argo Blockchain stock opened at $1.52 on Friday. Argo Blockchain has a one year low of $0.92 and a one year high of $4.45. The stock has a fifty day moving average of $1.82 and a 200 day moving average of $1.85.

Institutional Trading of Argo Blockchain

A hedge fund recently bought a new stake in Argo Blockchain stock. Chesapeake Capital Corp IL purchased a new position in Argo Blockchain plc (NASDAQ:ARBK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,253 shares of the company’s stock, valued at approximately $132,000. Chesapeake Capital Corp IL owned approximately 0.06% of Argo Blockchain as of its most recent SEC filing. 2.42% of the stock is owned by hedge funds and other 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.