
ARBK Stock Forecast & Price Target
ARBK Analyst Ratings
Bulls say
Argo Blockchain PLC is strategically positioning itself to capitalize on the growing demand for AI and data processing, with operations set to launch in April 2025 that are expected to create additional revenue streams. The company has successfully reduced its debt by $12.4 million, including the full repayment of the Galaxy loan, which significantly enhances its financial flexibility and lowers quarterly interest expenses to below $1 million. Furthermore, the expansion potential at its Baie Comeau site, alongside advancements in mining technology, indicates the capacity for substantial revenue growth, with preliminary estimates projecting $41.5 million in revenue for the upcoming year.
Bears say
Argo Blockchain PLC has reported a continuous decline in revenue, with 3Q24 revenues totaling $7.5 million, a decrease from $12.4 million in the previous quarter, and a subsequent downward revision of projected 2024 revenue from $50.4 million to $46.8 million. The company is facing challenging market conditions, highlighted by a significant drop in bitcoin production from 157 to 123 bitcoins between 2Q24 and 3Q24, along with unfavorable mining economics associated with sub-five cent hash prices. Additionally, Argo's cash position has weakened, falling from $4.0 million to $2.5 million, coupled with a reduction in bitcoin holdings, indicating liquidity concerns that may further dampen investor confidence.
This aggregate rating is based on analysts' research of Argo Blockchain PLC and is not a guaranteed prediction by Public.com or investment advice.
ARBK Analyst Forecast & Price Prediction
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