Analysts at financial services firm HC Wainwright and Jefferies lowered their price forecasts for Argo Blockchain following its results.
HC Wainwright’s Kevin Dede continued to rate Argo a buy, but lowered his price target to $8 from $14.
Jefferies’ Jonathan Peterson and Amanda Santillo cut their price target to $13 from $20, while maintaining a buy rating.
HC Wainwright cut Argo’s revenue forecast by nearly 50% to $84.3 million from $135.5 million. Jefferies’ Peterson/Santillo cut its revenue forecast by nearly 50% to $76.8 million from $145.6 million.