Roth Capital Reaffirms Their Buy Rating on Argo Blockchain (ARBK)

Roth Capital analyst Darren Aftahi maintained a Buy rating on Argo Blockchain (ARBKResearch Report) yesterday and set a price target of $10.00. The company’s shares closed yesterday at $4.93.

According to TipRanks, Aftahi is a 5-star analyst with an average return of 18.7% and a 40.32% success rate. Aftahi covers the Technology sector, focusing on stocks such as Argo Blockchain, Digital Turbine, and Alarm.

Argo Blockchain has an analyst consensus of Strong Buy, with a price target consensus of $9.25, an 87.63% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $8.00 price target.

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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 a 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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