Argo Blockchain plc (NASDAQ: ARBK) stock jumped 6.19% on Tuesday to $2.06 against a previous-day closing price of $1.94. With 0.34 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.67 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $2.0700 whereas the lowest price it dropped to was $1.9400. The 52-week range on ARBK shows that it touched its highest point at $11.40 and its lowest point at $0.36 during that stretch. It currently has a 1-year price target of $1.16.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ARBK was up-trending over the past week, with a rise of 13.19%, but this was up by 379.07% over a month. Three-month performance surged to 24.10% while six-month performance fell -58.22%. The stock lost -80.77% in the past year, while it has gained 90.74% so far this year. A look at the trailing 12-month EPS for ARBK yields 0.79 with Next year EPS estimates of -0.99.
Float and Shares Shorts:
At present, 47.78 million ARBK shares are outstanding with a float of 47.77 million shares on hand for trading. On Dec 29, 2022, short shares totaled 1.46 million, which was 3.05% higher than short shares on Nov 29, 2022. In addition to Mr. Peter G. Wall as the firm’s CEO & Interim Chairman, Mr. Alex Appleton C.A. serves as its CFO, Principal Financial Officer & Exec. Director.
Through their ownership of 1.92% of ARBK’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 1.64% of ARBK, in contrast to 0.19% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in ARBK with 1.09% of the stake, Van Eck Associates Corp. holds 518,774 shares worth 518,774. A second-largest stockholder of ARBK, Vident Investment Advisory LLC, holds 75,536 shares, controlling over 0.16% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ARBK, holding 38,280 shares or 0.08% stake. With a 0.12% stake in ARBK, the Valkyrie Bitcoin Miners ETF is the largest stakeholder. A total of 56,001 shares are owned by the mutual fund manager. The Blockchain Technologies ETF, which owns about 0.06% of ARBK stock, is the second-largest Mutual Fund holder. It holds 27,182 shares valued at 29357.0. CI Galaxy Blockchain ETF holds 0.01% of the stake in ARBK, owning 5,622 shares worth 6072.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, ARBK reported revenue of $11.81M and operating income of -$44.12M. Over the past year, revenue came in at $69.82M while operating income stood at -$5.10M. It generated -$32.08M net income for the quarter, which came to -$6.95M over the last twelve months. The EBITDA in the recently reported quarter was -$38.69M and diluted EPS was $0.00. EBITDA for the full year was $12.08M.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ARBK since 6 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ARBK analysts setting a high price target of $2.00 and a low target of $0.79, the average target price over the next 12 months is $1.16. Based on these targets, ARBK could drop -2.91% to reach the target high and fall by -61.65% to reach the target low. Reaching the average price target will result in a decline of -43.69% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ARBK will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.80 being high and -$1.81 being low. For ARBK, this leads to a yearly average estimate of -$1.46. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Argo Blockchain plc surprised analysts by -$0.03 when it reported -$0.28 EPS against a consensus estimate of -$0.25. The surprise factor in the prior quarter was -$0.77. The average estimate for the next quarter is thus -$0.22.
Summary of Insider Activity:
Insiders traded ARBK stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.