Argo Blockchain plc to Post Q2 2022 Earnings of $0.28 Per Share, DA Davidson Forecasts (NASDAQ:ARBK)

Argo Blockchain plc (NASDAQ:ARBK – Get Rating) – Equities researchers at DA Davidson issued their Q2 2022 earnings estimates for Argo Blockchain in a research note issued to investors on Friday, May 20th. DA Davidson analyst C. Brendler expects that the company will post earnings of $0.28 per share for the quarter. DA Davidson also issued estimates for Argo Blockchain’s FY2023 earnings at $3.27 EPS.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of Argo Blockchain from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, May 20th. Barclays dropped their target price on shares of Argo Blockchain from $22.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, March 14th. Compass Point decreased their price target on shares of Argo Blockchain to $25.00 and set a “na” rating for the company in a research note on Tuesday. HC Wainwright decreased their price target on shares of Argo Blockchain from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. Finally, Zacks Investment Research lowered shares of Argo Blockchain from a “hold” rating to a “strong sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $18.78.

Argo Blockchain stock opened at $5.61 on Monday. Argo Blockchain has a 52 week low of $5.39 and a 52 week high of $21.00. The company’s 50 day moving average price is $8.18 and its two-hundred day moving average price is $10.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.39 and a quick ratio of 2.85.

A number of institutional investors have recently added to or reduced their stakes in ARBK. Caas Capital Management LP purchased a new position in Argo Blockchain in the 3rd quarter valued at approximately $6,400,000. Millennium Management LLC purchased a new position in Argo Blockchain in the 3rd quarter valued at approximately $3,340,000. Van ECK Associates Corp purchased a new position in shares of Argo Blockchain during the 4th quarter valued at $2,291,000. Third Point LLC purchased a new position in shares of Argo Blockchain during the 3rd quarter valued at $1,600,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Argo Blockchain during the 3rd quarter valued at $1,354,000. Institutional investors and hedge funds own 1.57% of the company’s stock.

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.

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