$19.60 Million in Sales Expected for Argo Blockchain plc (NASDAQ:ARBK) This Quarter

Analysts expect Argo Blockchain plc (NASDAQ:ARBKGet Rating) to post $19.60 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Argo Blockchain’s earnings. The business is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Argo Blockchain will report full year sales of $134.64 million for the current year, with estimates ranging from $101.07 million to $183.50 million. For the next fiscal year, analysts forecast that the company will post sales of $230.07 million, with estimates ranging from $109.99 million to $417.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Argo Blockchain.

A number of analysts recently issued reports on ARBK shares. Stifel Nicolaus initiated coverage on Argo Blockchain in a research report on Friday, March 25th. They issued a “hold” rating and a $11.00 target price for the company. Canaccord Genuity Group reduced their target price on Argo Blockchain from $24.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, April 29th. Zacks Investment Research cut Argo Blockchain from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Barclays dropped their target price on Argo Blockchain from $22.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, March 14th. Finally, Compass Point boosted their price objective on Argo Blockchain from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, March 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $19.75.

NASDAQ ARBK traded up $0.38 on Monday, reaching $6.02. 109,862 shares of the company were exchanged, compared to its average volume of 131,029. Argo Blockchain has a fifty-two week low of $5.39 and a fifty-two week high of $21.00. The business’s fifty day moving average price is $8.47 and its 200 day moving average price is $11.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.85 and a current ratio of 2.85.

Large investors have recently made changes to their positions in the business. Scotia Capital Inc. bought a new position in shares of Argo Blockchain during the first quarter valued at $107,000. Kestra Advisory Services LLC bought a new position in shares of Argo Blockchain during the fourth quarter valued at about $141,000. Renaissance Technologies LLC bought a new position in shares of Argo Blockchain during the fourth quarter valued at about $148,000. Connective Portfolio Management LLC bought a new stake in Argo Blockchain in the fourth quarter worth about $159,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Argo Blockchain in the third quarter valued at approximately $287,000. Hedge funds and other institutional investors own 1.57% of the company’s stock.

Argo Blockchain Company Profile (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.

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Earnings History and Estimates for Argo Blockchain (NASDAQ:ARBK)

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