Brokerages Set Argo Blockchain plc (NASDAQ:ARBK) Price Target at $19.88

Argo Blockchain plc (NASDAQ:ARBKGet Rating) has been given an average rating of “Buy” by the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $19.88.

ARBK has been the subject of several research reports. Barclays decreased their target price on Argo Blockchain from $22.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, March 14th. Zacks Investment Research lowered Argo Blockchain from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Compass Point decreased their target price on Argo Blockchain to $25.00 and set a “na” rating for the company in a research report on Tuesday. Canaccord Genuity Group decreased their target price on Argo Blockchain from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Finally, HC Wainwright decreased their target price on Argo Blockchain from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 19th.

Hedge funds have recently made changes to their positions in the business. Scotia Capital Inc. acquired a new position in Argo Blockchain during the 1st quarter worth $107,000. Kestra Advisory Services LLC acquired a new position in Argo Blockchain during the 4th quarter worth $141,000. Renaissance Technologies LLC acquired a new position in Argo Blockchain during the 4th quarter worth $148,000. Connective Portfolio Management LLC bought a new stake in shares of Argo Blockchain in the 4th quarter worth $159,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Argo Blockchain in the 3rd quarter worth $287,000. Institutional investors own 1.57% of the company’s stock.

ARBK stock traded up $0.34 during midday trading on Friday, hitting $6.20. 133,186 shares of the company’s stock were exchanged, compared to its average volume of 180,185. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.39 and a quick ratio of 2.85. Argo Blockchain has a 12-month low of $5.39 and a 12-month high of $21.00. The firm has a 50 day moving average price of $8.00 and a 200-day moving average price of $10.68.

About Argo Blockchain (Get Rating)

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017. Argo Blockchain plc was incorporated in 2017 and is headquartered in London, the United Kingdom.

Recommended Stories

Analyst Recommendations for Argo Blockchain (NASDAQ:ARBK)

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.