HC Wainwright Reaffirms Neutral Rating for Argo Blockchain (NASDAQ:ARBK)

HC Wainwright reissued their neutral rating on shares of Argo Blockchain (NASDAQ:ARBK) in a report released on Friday morning, Benzinga reports.

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

Argo Blockchain Price Performance

Shares of NASDAQ ARBK opened at $1.37 on Friday. The stock has a market cap of $79.13 million, a P/E ratio of -2.49 and a beta of 2.01. The firm has a 50 day moving average price of $1.53 and a 200 day moving average price of $1.90. The company has a debt-to-equity ratio of 305.04, a quick ratio of 0.54 and a current ratio of 0.54. Argo Blockchain has a 52-week low of $0.92 and a 52-week high of $4.45.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Catalina Capital Group LLC acquired a new position in Argo Blockchain during the first quarter worth $28,000. Redwood Wealth Management Group LLC lifted its stake in Argo Blockchain by 33.6% in the fourth quarter. Redwood Wealth Management Group LLC now owns 76,755 shares of the company’s stock valued at $287,000 after acquiring an additional 19,300 shares during the last quarter. Chesapeake Capital Corp IL acquired a new stake in Argo Blockchain in the fourth quarter valued at $132,000. Finally, Vident Advisory LLC lifted its stake in Argo Blockchain by 108.5% in the first 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 last quarter. Institutional investors and hedge funds own 2.42% of the company’s stock.

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.