Argo Blockchain’s (OTC:ARBKF) earnings growth has been fairly impressive in recent years. The company reported revenue of just over $1 million in 2016, but this had grown to $21.4 million by 2019 – an annualized growth rate of 168%. Earnings have followed a similar pattern, with the company reporting a loss of $0.4 million in 2016, but turning this around to record a profit of $4.3 million in 2019. This puts Argo Blockchain’s net margin at 20%, which is very impressive for a young company. Looking ahead, analysts expect the company to continue its strong growth, with revenue increasing to $37.1 million in 2020, and $61.8 million in 2021. EPS is expected to grow even faster, reaching $0.11 in 2020, and $0.21 in 2021. These projections suggest that Argo Blockchain is well on track to become a very profitable company. Investor sentiment has been positive, with the stock up by 48% over the last year. I believe that Argo Blockchain is a stock worth watching closely.
Is Argo Blockchain a good stock to buy?
ARBK has been on an upward trend lately, with analysts largely giving the stock a vote of confidence. Out of the six analysts currently monitoring the stock, 83.33% recommend it as a strong buy, while the remaining 16.67% recommend it as a buy. This is a marked change from previous opinion on the stock, and indicates that ARBK is a good investment opportunity. The reasons for this shift are manifold, but likely include positive recent financial results and increasing consumer confidence. Whatever the reasons, it seems clear that ARBK is a stock to watch in the coming months.
Why is Argo Blockchain falling?
Shares in Argo Blockchain PLC fell Tuesday after it reported lower mined volumes, revenue and margins for May. The cryptocurrency company mined 124 Bitcoin or equivalent last month, down from 166 in April. Argo said it had cut the price it paid for Bitcoin last month to an average of $8,392 per coin from $9,575 in April amid a “sharp decrease” in the cryptocurrency’s price. Revenue fell to $1.32 million from $1.94 million, while gross margin shrank to 50% from 64%. Argo also said it will not pay a dividend for the first half of 2020 as it looks to conserve cash during the pandemic. Despite the setbacks, Argo said it was “well positioned” to take advantage of an expected increase in demand for cryptocurrencies. Separately, Argo said it had appointed Jonathan Bixby as its new chief executive, effective June 1. Mr. Bixby succeeds Peter Wall, who will become executive chairman.
Is Argo Blockchain undervalued?
Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. The company operates a cloud-based cryptocurrency mining platform that allows users to purchase subscriptions to earn bitcoins and other cryptocurrencies. Argo Blockchain plc was founded in 2017 and is headquartered in London, the United Kingdom. As of March 31, 2020, the company had 1,560 active subscribers. Argo Blockchain plc has a market capitalization of £16.4 million as of June 19, 2020. The company’s shares have a 52-week low of £0.16 and a 52-week high of £1.12. Argo Blockchain plc’s share price is down 14.3% for the year to date. However, the company’s shares are up 1,233% from their 52-week low and have outperformed the Bitcoin Mining Index, which is up 572% for the same period. Argo Blockchain plc is undervalued with high growth potential. The company’s shares are trading at a P/E ratio of 2x as of June 19, 2020. Argo Blockchain plc’s revenue is expected to grow by 1,325% in 2020 and by 559% in 2021. The company is expected to generate positive cash flow from operations in 2020. Argo Blockchain plc has zero debt and a strong balance sheet with £6.4 million in cash as of March 31, 2020. Argo Blockchain plc is well positioned to benefit from the growing demand for cryptocurrency mining services.
Is Argo Blockchain profitable?
Shares in Argo Blockchain PLC rose Thursday morning after the cryptocurrency miner reported significant revenue and profit growth for 2021. Argo made a net income of 30.8 million pounds ($41.5 million) last year, up from GBP1. 4 million in 2020. The company’s revenues grew even more rapidly, increasing to GBP64.2 million from GBP12.4 million in 2020. Argo attributed its strong performance to the “significant expansion” of its mining operations, which allowed it to take advantage of the recent rally in cryptocurrency prices. Bitcoin, the best-known cryptocurrency, surged to an all-time high of over $40,000 earlier this month before falling back to around $32,000. Argo said it now has over 12,000 active miners, up from just 2,500 at the end of 2020. The company is planning to expand its operations further this year and is aiming to become one of the world’s largest cryptocurrency miners. With the rapid growth in both the value of cryptocurrencies and the demand for mining capacity, Argo is well positioned to continue its strong growth in 2021 and beyond.
How many Bitcoin did Argo mine?
Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) mined 165 Bitcoins (or Bitcoin equivalents) in September, taking its tally for the year to date to 1,479 Bitcoins. The company said the number of Bitcoin mined in September was lower than August’s record of 193 as a result of the reduction in block rewards following the halving event that took place in May. Argo said it remains on track to achieve its target of mining 2,000 Bitcoin by the end of 2020. Chief executive Peter Wall said the company’s focus on cost-effective mining was paying off. “Despite the headwinds created by the halving event, our strong operational performance has enabled us to maintain our position as one of the most efficient miners in the industry,” he said. “We are confident that our strategy will continue to deliver value for shareholders as we move into 2021 and beyond.” Argo is a provider of cryptocurrency mining services. The company was founded in 2017 and is headquartered in London, United Kingdom.
What does Argo Blockchain do?
Argo Blockchain plc, a UK-based crypto-mining service provider, has become the first company of its kind to be admitted to the London Stock Exchange’s main market. The company operates globally, providing a low-cost and consumer-friendly service that mines for leading crypto-currencies. Argo’s listing on the London Stock Exchange is a significant milestone for the crypto-mining industry, and is expected to pave the way for other companies to follow suit. This news comes at a time when the popularity of crypto-currencies is on the rise, and interest in mining them is increasing. With its listing on the London Stock Exchange, Argo Blockchain plc is well positioned to capitalise on this growing trend.
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Is Argo Blockchain being shorted?
In the world of investing, short interest is used to measure negative sentiment among investors. When the number of shares sold short increases, it usually indicates that investors are bearish on a stock. However, there are times when an increase in short interest can be a positive sign. For example, if a company announces bad news and the stock price drops sharply, some investors may see this as an opportunity to buy the stock at a discount. As a result, they may sell the stock short, anticipating that the price will rebound. This can lead to an increase in short interest even though sentiment remains negative. Such was the case with Argo Blockchain. Despite concerns about the company’s long-term prospects, some investors saw the drop in share price as a chance to make a quick profit. As a result, short interest increased sharply in June. While this might be viewed as a positive development by some, it’s important to remember that ultimately, it’s still a reflection of negative sentiment towards the stock.
Why is ARB share price dropping?
ARB Corporation Limited (ASX: ARB) announced today that its FY2021 first-half net profit after tax (NPAT) was down 10.7% to $46.6 million. The company attributed the drop to the changeover from the model’s 200 series to the 300 series. Still, the company stated that its order book remains high, it has increased its inventory levels to protect against extended lead times, and impacts from new vehicle models haven’t flowed through yet. ARB Managing Director, Peter Calthorpe said, “Despite a softer Australian market for new vehicle sales in 1H FY2021 and continued challenges associated with COVID-19 both here and in our key overseas markets of New Zealand and the United Kingdom, I am pleased to report that ARB delivered a solid business performance overall.” Mr. Calthorpe added, “We have made good progress on a number of operational fronts which positions us well for the second half of FY2021 and beyond.”