Argo Blockchain plc (NASDAQ:ARBK – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.25.
ARBK has been the topic of a number of recent research reports. Canaccord Genuity Group lowered their price objective on Argo Blockchain from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, May 20th. Stifel Nicolaus started coverage on Argo Blockchain in a research note on Friday, March 25th. They issued a “hold” rating and a $11.00 price target on the stock. Barclays decreased their price target on Argo Blockchain from $15.00 to $7.00 and set an “overweight” rating on the stock in a research note on Friday. Compass Point cut their price objective on Argo Blockchain from $25.00 to $12.00 in a report on Tuesday, June 28th. Finally, HC Wainwright cut their target price on Argo Blockchain from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 19th.
A number of institutional investors and hedge funds have recently modified their holdings of ARBK. Scotia Capital Inc. purchased a new position in shares of Argo Blockchain in the 1st quarter worth approximately $107,000. Kestra Advisory Services LLC purchased a new position in shares of Argo Blockchain in the 4th quarter worth approximately $141,000. Connective Portfolio Management LLC purchased a new position in shares of Argo Blockchain in the 4th quarter worth approximately $159,000. First Trust Advisors LP purchased a new position in shares of Argo Blockchain in the 4th quarter worth approximately $469,000. Finally, Vident Investment Advisory LLC purchased a new position in Argo Blockchain in the first quarter valued at approximately $657,000. 1.57% of the stock is owned by hedge funds and other institutional investors.
Argo Blockchain stock opened at $4.25 on Friday. The stock’s fifty day moving average price is $5.55 and its two-hundred day moving average price is $8.27. Argo Blockchain has a one year low of $3.71 and a one year high of $21.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.39 and a current ratio of 2.39.
About Argo Blockchain (Get Rating)
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 cryptographic algorithms. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017.
Read More
Receive News & Ratings for Argo Blockchain Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Argo Blockchain and related companies with MarketBeat.com’s FREE daily email newsletter.
