Argo Blockchain Plc ADR (NASDAQ:ARBK) price on Friday, May 23, fall -1.17% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.43.
A look at the stock’s price movement, the close in the last trading session was $0.44. Turning to its 52-week performance, $1.99 and $0.29 were the 52-week high and 52-week low respectively. Overall, ARBK moved 2.81% over the past month.
Argo Blockchain Plc ADR’s market cap currently stands at around $30.97 million, with investors looking forward to this quarter’s earnings report slated for in June.
Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.36M, representing a -87.66% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ARBK is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 1 recommend ARBK as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ARBK’s current price about 5.23% and 12.67% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.24, while 7-day volatility ratio is 2.48% and 6.98% in the 30-day chart. Further, Argo Blockchain Plc ADR (ARBK) has a beta value of 2.03, and an average true range (ATR) of 0.04. Analysts have given the company’s stock an average 52-week price target of $1.25, forecast between a low of $1 and high of $8. Looking at the price targets, the low is -132.56% off current price level while to achieve the yearly target high, price needs to move -1760.47%. Nonetheless, investors will most likely welcome a -190.7% jump to $1.25 which is the analysts’ median price.
If we refocus on Argo Blockchain Plc ADR (NASDAQ:ARBK), historical trading data shows that trading volumes averaged 1.57 million over the past 3 months. The company’s latest data on shares outstanding shows there are 71.72 million shares.
Current price change has pushed the stock -23.58% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ARBK stock continues to rise going into the next quarter.
