Argo Blockchain (ARBK) to Announce Quarterly Earnings on Wednesday

Argo Blockchain (NASDAQ:ARBKGet Free Report) is expected to release its resultson Wednesday, September 2nd. Analysts expect the company to announce earnings of $61.25 per share and revenue of $35.3040 million for the quarter.

Argo Blockchain Stock Performance

Argo Blockchain stock opened at $2.87 on Monday. The stock has a fifty day moving average price of $3.11 and a 200 day moving average price of $3.22. Argo Blockchain has a 52 week low of $2.63 and a 52 week high of $205.20. The firm has a market capitalization of $38.34 million, a P/E ratio of -0.02 and a beta of 1.90. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.14.

Hedge Funds Weigh In On Argo Blockchain

An institutional investor recently bought a new stake in Argo Blockchain stock. Armistice Capital LLC purchased a new stake in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBKFree Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned about 6.17% of Argo Blockchain as of its most recent filing with the Securities and Exchange Commission (SEC). 2.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Argo Blockchain in a research note on Friday, August 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

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Argo Blockchain Company Profile

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Argo Blockchain Plc is a publicly traded blockchain technology company focused on large-scale cryptocurrency mining. The company’s principal business activities involve the deployment and operation of high-performance data centers that house specialized hardware for mining Bitcoin and other digital assets. Through advanced infrastructure design and a commitment to operational efficiency, Argo seeks to optimize hash rates and energy consumption to maximize yields for its shareholders.

Founded in 2017 and headquartered in London, Argo Blockchain initially listed on the London AIM market before securing a secondary listing on the Nasdaq under the ticker ARBK.

Further Reading

Earnings History for Argo Blockchain (NASDAQ:ARBK)

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