Argo Blockchain FY2024 EPS Forecast Boosted by HC Wainwright

Argo Blockchain plc (NASDAQ:ARBK) – Analysts at HC Wainwright increased their FY2024 EPS estimates for Argo Blockchain in a research note issued to investors on Thursday, November 21st. HC Wainwright analyst K. Dede now anticipates that the company will post earnings of ($0.78) per share for the year, up from their prior forecast of ($0.87). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for Argo Blockchain’s current full-year earnings is ($0.69) per share. HC Wainwright also issued estimates for Argo Blockchain’s Q4 2024 earnings at ($0.14) EPS and FY2025 earnings at ($0.44) EPS.

Argo Blockchain Stock Down 3.4 %

Shares of ARBK opened at $1.13 on Monday. The stock has a 50 day moving average price of $1.18 and a 200 day moving average price of $1.26. Argo Blockchain has a one year low of $1.02 and a one year high of $4.45. The company has a debt-to-equity ratio of 5.06, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $71.90 million, a price-to-earnings ratio of -1.57 and a beta of 1.88.

Argo Blockchain (NASDAQ:ARBK) last announced its earnings results on Wednesday, August 28th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.12). The firm had revenue of $12.42 million for the quarter, compared to analyst estimates of $13.40 million. Argo Blockchain had a negative net margin of 92.08% and a negative return on equity of 4,172.69%.

Institutional Investors Weigh In On Argo Blockchain

Large investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of Argo Blockchain in the second quarter worth about $28,000. Cubist Systematic Strategies LLC purchased a new position in Argo Blockchain in the 2nd quarter worth approximately $49,000. Jane Street Group LLC boosted its holdings in shares of Argo Blockchain by 488.7% during the 3rd 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 last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Argo Blockchain in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors 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.