Argo Blockchain (NASDAQ:ARBK) Lowered to Neutral at HC Wainwright

Argo Blockchain (NASDAQ:ARBK) was downgraded by investment analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports.

Separately, Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.45 target price on shares of Argo Blockchain in a report on Thursday, March 28th.

Argo Blockchain Stock Up 0.7 %

Shares of ARBK opened at $1.52 on Friday. Argo Blockchain has a 12 month low of $0.92 and a 12 month high of $4.45. The stock’s 50-day moving average price is $1.84 and its two-hundred day moving average price is $1.86.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Argo Blockchain stock. Chesapeake Capital Corp IL acquired a new stake in Argo Blockchain plc (NASDAQ:ARBK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 35,253 shares of the company’s stock, valued at approximately $132,000. Chesapeake Capital Corp IL owned 0.06% of Argo Blockchain at the end of the most recent reporting period. Institutional investors and hedge funds own 2.42% of the company’s stock.

Argo Blockchain Company Profile

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.