Argo Blockchain (NASDAQ:ARBK) Now Covered by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods assumed coverage on shares of Argo Blockchain (NASDAQ:ARBK) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued an underperform rating on the stock.

Separately, HC Wainwright restated a “neutral” rating on shares of Argo Blockchain in a research report on Thursday, November 21st.

Argo Blockchain Trading Down 4.2 %

Shares of ARBK opened at $0.63 on Wednesday. The company has a debt-to-equity ratio of 5.06, a quick ratio of 0.52 and a current ratio of 0.52. Argo Blockchain has a fifty-two week low of $0.52 and a fifty-two week high of $3.13. The firm has a 50 day moving average price of $0.91 and a 200-day moving average price of $1.13. The firm has a market cap of $39.80 million, a price-to-earnings ratio of -0.87 and a beta of 1.97.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Argo Blockchain during the 3rd quarter valued at $28,000. XTX Topco Ltd boosted its holdings in shares of Argo Blockchain by 144.5% during the third quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock worth $72,000 after purchasing an additional 35,118 shares during the period. Jane Street Group LLC boosted its holdings in shares of Argo Blockchain by 488.7% during the third quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock worth $1,181,000 after purchasing an additional 810,559 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Argo Blockchain in the second quarter worth about $49,000. 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.