Argo Blockchain (NASDAQ: ARBK) given a new price target of $ 7.00 at Barclays

Argo Blockchain (NASDAQ: ARBK – Get rating) had its target price lowered by research analysts at Barclays from $ 15.00 to $ 7.00 in a report issued on Friday, reports The Fly. Barclay’s price target will indicate a potential upside of 56.60% from the company’s current price.

A number of other stock analysts also recently published reports on the stock. Stifel Nicolaus started covering shares in Argo Blockchain in a research report on Friday 25. March. They issued a “hold” rating and a $ 11.00 price target for the company. Canaccord Genuity Group lowered the target price of shares in Argo Blockchain from $ 16.00 to $ 13.00 and set a “buy” rating on the share in a research note on Friday 20. May. Compass Point lowered the target price of shares in Argo Blockchain from $ 25.00 to $ 12.00 in a research note on Tuesday, June 28th. Finally, HC Wainwright lowered their price target on shares of Argo Blockchain from $ 16.00 to $ 14.00 and set a “buy” rating on the stock in a research report on Thursday 19 May. An investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $ 17.25.

The shares in ARBK opened at 4.47 dollars on Friday. Argo Blockchain has a minimum of $ 3.71 for one year and a one year maximum of $ 21.00. The company has a debt ratio of 0.23, a quick ratio of 2.39 and a debt ratio of 2.39. The company has a 50 day single moving average of $ 5.70 and a two hundred day single moving average of $ 8.45.

A number of institutional investors have recently changed their holdings of the business. Van ECK Associates Corp. increased its position in Argo Blockchain by 93.9% during the first quarter. Van ECK Associates Corp. now owns 365,324 shares of the company’s shares worth $ 3,602,000 after buying an additional 176,951 shares during the last quarter. Millennium Management LLC acquired a new stake in Argo Blockchain during the third quarter worth approximately $ 3,340,000. Renaissance Technologies LLC increased its position in shares in Argo Blockchain by 632.0% during the first quarter. Renaissance Technologies LLC now owns 89,300 of the company’s shares worth $ 880,000 after buying an additional 77,100 shares during the last quarter. Gillson Capital LP increased its position in shares in Argo Blockchain by 32.6% during the first quarter. Gillson Capital LP now owns 86,966 shares of the company’s shares valued at $ 857,000 after buying an additional 21,368 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new stake in Argo Blockchain in the first quarter worth approximately $ 657,000. Institutional investors own 1.57% of the company’s shares.

About Argo Blockchain (Get rating)

Argo Blockchain plc, together with its subsidiaries, engages in bitcoin and other cryptocurrency mining businesses worldwide. It mines specially built computers for cryptographic algorithms. The company was previously known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017.

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