Argo Blockchain’s (NASDAQ:ARBK – Get Rating) lock-up period is set to expire on Tuesday, March 22nd. Argo Blockchain had issued 7,500,000 shares in its initial public offering on September 23rd. The total size of the offering was $112,500,000 based on an initial share price of $15.00. After the end of Argo Blockchain’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
A number of brokerages recently commented on ARBK. Compass Point upped their target price on Argo Blockchain from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, March 8th. Barclays decreased their target price on shares of Argo Blockchain from $22.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Zacks Investment Research lowered shares of Argo Blockchain from a “hold” rating to a “sell” rating in a report on Wednesday, February 9th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from…
