Argo Blockchain (NASDAQ:ARBK) Cut to Neutral at HC Wainwright

HC Wainwright cut shares of Argo Blockchain (NASDAQ:ARBK) from a buy rating to a neutral rating in a report released on Friday morning, MarketBeat.com reports.

Separately, Canaccord Genuity Group restated a hold rating and issued a $1.45 price objective on shares of Argo Blockchain in a research report on Thursday, March 28th.

Argo Blockchain Stock Performance

Argo Blockchain stock opened at $1.52 on Friday. Argo Blockchain has a 12 month low of $0.92 and a 12 month high of $4.45. The stock’s 50 day simple moving average is $1.82 and its two-hundred day simple moving average is $1.85.

Institutional Trading of Argo Blockchain

A hedge fund recently raised its stake in Argo Blockchain stock. Redwood Wealth Management Group LLC grew its stake in Argo Blockchain plc (NASDAQ:ARBK) by 33.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,755 shares of the company’s stock after acquiring an additional 19,300 shares during the quarter. Redwood Wealth Management Group LLC owned about 0.13% of Argo Blockchain worth $287,000 as of its most recent SEC filing. 2.42% of the stock is currently owned by 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.