Argo Blockchain plc (NASDAQ:ARBK) given consensus recommendation of “Hold” by analysts
Shares of Argo Blockchain plc (NASDAQ:ARBK – Get Rating) have received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $3.00.
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A number of research firms have weighed in on ARBK. Roth Capital raised shares of Argo Blockchain from a “sell” rating to a “neutral” rating in a research note on Wednesday, January 4th. Compass Point lowered shares of Argo Blockchain from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 25th. Stifel Nicolaus lowered shares of Argo Blockchain from a “hold” rating to a “sell” rating in a research report on Tuesday, November 1st. Jefferies Financial Group lowered shares of Argo Blockchain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Finally, HC Wainwright lowered shares of Argo Blockchain from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 14th.
Argo Blockchain Price Performance
ARBK opened at $2.06 on Wednesday. The company’s 50 day simple moving average is $0.95 and its two hundred day simple moving average is $2.74. Argo Blockchain has a 1 year low of $0.36 and a 1 year high of $11.40.
Institutional trading with Argo Blockchain
Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in Argo Blockchain in the 3rd quarter valued at approximately $72,000. Virtu Financial LLC purchased a new position in shares of Argo Blockchain in the 3rd quarter worth $50,000. Van ECK Associates Corp raised its stake in shares of Argo Blockchain by 32.1% in the third quarter. Van ECK Associates Corp now owns 518,774 shares of the company’s stock worth $2,007,000 after buying an additional 126,130 shares in the last quarter. State Street Corp bought a new position in shares of Argo Blockchain in the second quarter worth $139,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Argo Blockchain in the second quarter worth $118,000. Institutional investors and hedge funds own 1.81% of the company’s shares.
Argo Blockchain Company Profile
(Get rating)
Argo Blockchain plc, together with its subsidiaries, engages in bitcoin and other cryptocurrency mining operations worldwide. It mines purpose-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.
Further reading
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