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Argo Blockchain (ARBK) Gets a Buy Rating from Roth Capital

Roth Capital analyst Darren Aftahi maintained a Buy rating on Argo Blockchain (ARBKResearch Report) today and set a price target of $11.00. The company’s shares closed last Friday at $5.13, close to its 52-week low of $3.71.

According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 18.3% and a 39.4% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine, Fathom Holdings, and Phunware.

Currently, the analyst consensus on Argo Blockchain is a Strong Buy with an average price target of $11.40.

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Based on Argo Blockchain’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $14.89 million and net profit of $1.57 million. In comparison, last year the company had a net profit of $0.

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Argo Blockchain PLC is a cloud-based crypto mining company. The company’s service provides access to mining rigs, which perform the complex crypto-mining operations for its users and then directly deposit all coins mined into users’ digital wallets.

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