Canaccord Genuity Group restated their hold rating on shares of Argo Blockchain (NASDAQ:ARBK – Free Report) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $1.45 price target on the stock.
Argo Blockchain Price Performance
ARBK stock opened at $2.17 on Thursday. Argo Blockchain has a 1 year low of $0.92 and a 1 year high of $4.45. The firm has a 50-day moving average of $2.05 and a 200 day moving average of $1.78.
Hedge Funds Weigh In On Argo Blockchain
A number of institutional investors have recently bought and sold shares of ARBK. Vident Advisory LLC increased its position in shares of Argo Blockchain by 429.1% during the fourth quarter. Vident Advisory LLC now owns 807,826 shares of the company’s stock valued at $3,021,000 after acquiring an additional 655,136 shares in the last quarter. Renaissance Technologies LLC grew its position in Argo Blockchain by 632.0% in the 1st quarter. Renaissance Technologies LLC now owns 89,300 shares of the company’s stock worth $880,000 after purchasing an additional 77,100 shares during the period. Vident Investment Advisory LLC bought a new stake in Argo Blockchain in the 1st quarter worth approximately $657,000. State Street Corp bought a new stake in Argo Blockchain in the 2nd quarter worth approximately $139,000. Finally, Chesapeake Capital Corp IL bought a new stake in Argo Blockchain in the 4th quarter worth approximately $132,000. 2.42% of the stock is 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.
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