Argo Blockchain plc (NASDAQ:ARBK) Expected to Announce Quarterly Sales of $19.60 Million

Equities analysts forecast that Argo Blockchain plc (NASDAQ: ARBK – Get Rating) will post $ 19.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Argo Blockchain’s earnings. The company is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Argo Blockchain will report full year sales of $ 134.64 million for the current year, with estimates ranging from $ 101.07 million to $ 183.50 million. For the next fiscal year, analysts anticipate that the business will post sales of $ 230.07 million, with estimates ranging from $ 109.99 million to $ 417.80 million. Zacks’ sales calculations are an average based on a survey of research analysts that provide coverage for Argo Blockchain.

ARBK has been the subject of several research analyst reports. Compass Point increased their price objective on Argo Blockchain from $ 21.00 to $ 25.00 and gave the company a “buy” rating in a report on Tuesday, March 8th. Barclays decreased their price target on Argo Blockchain from $ 22.00 to $ 15.00 and set an “overweight” rating for the company in a report on Monday, March 14th. Stifel Nicolaus assumed coverage on Argo Blockchain in a report on Friday, March 25th. They issued a “hold” rating and a $ 11.00 target price for the company. Canaccord Genuity Group reduced their target price on Argo Blockchain from $ 24.00 to $ 16.00 and set a “buy” rating for the company in a report on Friday, April 29th. Finally, Zacks Investment Research cut Argo Blockchain from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $ 19.75.

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ARBK stock opened at $ 7.54 on Monday. The stock’s 50 day moving average price is $ 8.71. Argo Blockchain has a fifty-two week low of $ 7.15 and a fifty-two week high of $ 21.00.

Large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new stake in shares of Argo Blockchain during the 4th quarter worth about $ 141,000. Renaissance Technologies LLC bought a new stake in shares of Argo Blockchain in the 4th quarter worth about $ 148,000. Connective Portfolio Management LLC bought a new stake in Argo Blockchain during the 4th quarter worth about $ 159,000. Schonfeld Strategic Advisors LLC bought a new stake in Argo Blockchain during the 3rd quarter worth about $ 287,000. Finally, Morgan Stanley acquired a new position in Argo Blockchain during the 3rd quarter valued at about $ 421,000. 1.57% of the stock is currently owned by hedge funds and other institutional investors.

Argo Blockchain Company Profile (Get Rating)

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017. Argo Blockchain plc was incorporated in 2017 and is headquartered in London, the United Kingdom.

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Earnings History and Estimates for Argo Blockchain (NASDAQ: ARBK)

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