Argo Blockchain plc (NASDAQ: ARBK – Get Rating) has received a consensus recommendation for “Moderate Buy” from the nine rating companies that cover 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 stock coverage over the past year is $ 17.25.
ARBK has been the subject of a number of recent research reports. Canaccord Genuity Group lowered its price target on the Argo Blockchain from $ 16.00 to $ 13.00 and put a “buy” rating on the stock in a research note on Friday 20. May. Stifel Nicolaus started coverage on Argo Blockchain in a research note on Friday 25. March. They issued a “hold” rating and a price target of $ 11.00 per share. Barclays reduced its price target on the Argo Blockchain from $ 15.00 to $ 7.00 and put an “overweight” rating on the stock in a research note on Friday. Compass Point cut their price target on the Argo Blockchain from $ 25.00 to $ 12.00 in a report on Tuesday, June 28th. Finally, HC Wainwright cut the target price of the Argo Blockchain from $ 16.00 to $ 14.00 and put a “buy” rating on the stock in a report on Thursday, May 19th.
A number of institutional investors and hedge funds have recently changed their holdings of ARBK. Scotia Capital Inc. acquired a new shareholding in Argo Blockchain in the 1st quarter worth approximately $ 107,000. Kestra Advisory Services LLC acquired a new equity position in Argo Blockchain in the 4th quarter worth approximately $ 141,000. Connective Portfolio Management LLC acquired a new position in shares in Argo Blockchain in the 4th quarter worth approximately $ 159,000. First Trust Advisors LP acquired a new position in shares in Argo Blockchain in the 4th quarter worth approximately $ 469,000. Finally, Vident Investment Advisory LLC acquired a new position in Argo Blockchain in the first quarter worth approximately $ 657,000. 1.57% of the stock is owned by hedge funds and other institutional investors.
The Argo Blockchain stock opened at $ 4.25 on Friday. The stock’s fifty-day moving average price is $ 5.55 and the two hundred-day moving average price is $ 8.27. 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.
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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