Argo Blockchain (NASDAQ:ARBK) Raised to Sell at Wall Street Zen

Argo Blockchain (NASDAQ:ARBK) was upgraded by Wall Street Zen to a “sell” rating in a research note issued on Saturday.

Several other equities research analysts have also weighed in on the stock. HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a report on Friday, October 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Argo Blockchain in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Sell”.

Argo Blockchain Stock Performance

ARBK opened at $0.55 on Friday. The firm’s fifty day moving average is $0.32 and its two-hundred day moving average is $0.35. The firm has a market cap of $39.80 million, a PE ratio of -0.57 and a beta of 1.75. Argo Blockchain has a twelve month low of $0.15 and a twelve month high of $1.55.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Argo Blockchain stock. Armistice Capital LLC bought a new stake in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned approximately 6.17% of Argo Blockchain at the end of the most recent quarter. 2.42% of the stock is owned by hedge funds and other institutional investors.

About Argo Blockchain

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. It engages in mining purpose-built computers for complex cryptographic algorithms. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017.