Argo Blockchain (NASDAQ:ARBK) Shares Scheduled to Reverse Split on Friday, December 12th

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK)’s stock is going to reverse split before the market opens on Friday, December 12th. The 1-216 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, December 11th.

Argo Blockchain Stock Down 6.5%

Shares of ARBK stock opened at $0.18 on Monday. The firm has a market cap of $12.94 million, a price-to-earnings ratio of -0.19 and a beta of 1.83. Argo Blockchain has a 52-week low of $0.15 and a 52-week high of $0.95. The company’s 50 day moving average is $0.38 and its 200 day moving average is $0.34.

Argo Blockchain (NASDAQ:ARBK) last issued its quarterly earnings data on Tuesday, September 30th. The company reported ($0.05) EPS for the quarter. The company had revenue of $3.14 million for the quarter. Analysts anticipate that Argo Blockchain will post -0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ARBK has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “neutral” rating on shares of Argo Blockchain in a research report on Friday, October 3rd. Wall Street Zen raised shares of Argo Blockchain from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Argo Blockchain in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Argo Blockchain presently has a consensus rating of “Sell”.

Institutional Trading of Argo Blockchain

A hedge fund recently bought a new stake in Argo Blockchain stock. Armistice Capital LLC bought a new position in shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned about 6.17% of Argo Blockchain at the end of the most recent quarter. 2.42% of the stock is owned by institutional investors.

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.