Keefe, Bruyette & Woods Initiates Coverage on Argo Blockchain (NASDAQ:ARBK)

Keefe, Bruyette & Woods started coverage on shares of Argo Blockchain (NASDAQ:ARBK) in a report released on Wednesday morning, Marketbeat.com reports. The brokerage issued an underperform rating on the stock.

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

Argo Blockchain Stock Performance

Shares of ARBK opened at $0.63 on Wednesday. The firm has a market capitalization of $39.80 million, a PE ratio of -0.87 and a beta of 1.97. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.52 and a quick ratio of 0.52. The company has a 50-day simple moving average of $0.91 and a two-hundred day simple moving average of $1.13. Argo Blockchain has a one year low of $0.52 and a one year high of $3.13.

Institutional Investors Weigh In On Argo Blockchain

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Argo Blockchain during the third quarter valued at about $28,000. XTX Topco Ltd purchased a new position in shares of Argo Blockchain during the 2nd quarter valued at about $28,000. Cubist Systematic Strategies LLC purchased a new stake in Argo Blockchain in the 2nd quarter worth approximately $49,000. Finally, Jane Street Group LLC lifted its holdings in Argo Blockchain by 488.7% during the third quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after purchasing an additional 810,559 shares in the last quarter. Institutional investors own 2.42% of the company’s stock.

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.