Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK - Get Free Report) was the target of unusually large options trading activity on Monday. Stock investors bought 7,411 call options on the company. This is an increase of approximately 730% compared to the typical daily volume of 893 call options.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Argo Blockchain in a research note on Saturday, September 27th. HC Wainwright reissued a "neutral" rating on shares of Argo Blockchain in a research note on Friday. Finally, Wall Street Zen raised shares of Argo Blockchain to a "hold" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Sell".
Get Our Latest Research Report on Argo Blockchain
Argo Blockchain Trading Up 104.1%
ARBK stock traded up $0.44 during midday trading on Monday, reaching $0.85. The stock had a trading volume of 111,705,577 shares, compared to its average volume of 5,284,677. The company's fifty day simple moving average is $0.29 and its 200 day simple moving average is $0.34. The company has a market cap of $61.47 million, a price-to-earnings ratio of -0.87 and a beta of 1.75. Argo Blockchain has a 52-week low of $0.15 and a 52-week high of $1.55.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Argo Blockchain stock. Armistice Capital LLC purchased a new position in shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,435,969 shares of the company's stock, valued at approximately $830,000. Armistice Capital LLC owned 6.17% of Argo Blockchain as of its most recent SEC filing. 2.42% of the stock is owned by institutional investors and hedge funds.
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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