Argo Blockchain (ARBK) Scheduled to Post Earnings on Tuesday

Posted by on Aug 27th, 2023

Argo Blockchain (NASDAQ:ARBK – Get Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, August 29th. Analysts expect Argo Blockchain to post earnings of ($0.17) per share for the quarter.

Argo Blockchain (NASDAQ:ARBK – Get Free Report) last released its quarterly earnings results on Tuesday, June 13th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.10). The company had revenue of $11.44 million during the quarter, compared to the consensus estimate of $10.81 million. On average, analysts expect Argo Blockchain to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Argo Blockchain Trading Down 7.3 %

ARBK opened at $1.01 on Friday. Argo Blockchain has a 12 month low of $0.36 and a 12 month high of $5.30. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 11.53. The stock has a 50-day moving average of $1.49 and a 200 day moving average of $1.47.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. VNET Group reiterated a “maintains” rating on shares of Argo Blockchain in a research report on Wednesday, May 3rd. HC Wainwright raised shares of Argo Blockchain from a “neutral” rating to a “buy” rating in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Argo Blockchain has a consensus rating of “Hold” and a consensus target price of $5.33.

Read Our Latest Stock Report on Argo Blockchain

Institutional Trading of Argo Blockchain

Several institutional investors have recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. boosted its holdings in shares of Argo Blockchain by 49.5% in the first quarter. Harvest Portfolios Group Inc. now owns 40,649 shares of the company’s stock valued at $68,000 after purchasing an additional 13,467 shares during the period. XTX Topco Ltd purchased a new stake in shares of Argo Blockchain in the first quarter valued at approximately $51,000. Jane Street Group LLC purchased a new stake in shares of Argo Blockchain in the third quarter valued at approximately $72,000. State Street Corp purchased a new stake in shares of Argo Blockchain in the second quarter valued at approximately $139,000. Finally, Vident Investment Advisory LLC purchased a new stake in shares of Argo Blockchain in the first quarter valued at approximately $657,000. Institutional investors own 1.90% of the company’s stock.

About Argo Blockchain

(Get Free Report)

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.

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