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Argo Blockchain PLC Sponsored ADR (ARBK) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2 min read

Argo Blockchain PLC Sponsored ADR (ARBK) closed at $9.86 in the latest trading session, marking a +1.23% move from the prior day. This move outpaced the S&P 500's daily loss of 1.57%. At the same time, the Dow lost 1.56%, and the tech-heavy Nasdaq gained 0.1%.

Heading into today, shares of the company had gained 4.84% over the past month, outpacing the Business Services sector's gain of 4.53% and lagging the S&P 500's gain of 5.37% in that time.

Argo Blockchain PLC Sponsored ADR will be looking to display strength as it nears its next earnings release.

It is also important to note the recent changes to analyst estimates for Argo Blockchain PLC Sponsored ADR. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.64% lower within the past month. Argo Blockchain PLC Sponsored ADR is holding a Zacks Rank of #4 (Sell) right now.

Digging into valuation, Argo Blockchain PLC Sponsored ADR currently has a Forward P/E ratio of 5.75. For comparison, its industry has an average Forward P/E of 23.34, which means Argo Blockchain PLC Sponsored ADR is trading at a discount to the group.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 31% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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