Argo Blockchain PLC Sponsored ADR (ARBK) closed the most recent trading day at $7.72, moving +0.65% from the previous trading session. This change outpaced the S&P 500’s 0.72% loss on the day. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.33%.
Coming into today, shares of the company had lost 28.18% in the past month. In that same time, the Business Services sector lost 11.71%, while the S&P 500 lost 6.24%.
Argo Blockchain PLC Sponsored ADR will be looking to display strength as it nears its next earnings release.
Investors should also note any recent changes to analyst estimates for Argo Blockchain PLC Sponsored ADR. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.48% lower. Argo Blockchain PLC Sponsored ADR is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Argo Blockchain PLC Sponsored ADR has a Forward P/E ratio of 4.52 right now. This represents a discount compared to its industry’s average Forward P/E of 22.12.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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