HC Wainwright Reaffirms Buy Rating for BTCS (NASDAQ:BTCS)

HC Wainwright reiterated their buy rating on shares of BTCS (NASDAQ:BTCS) in a research note released on Monday, Benzinga reports. They currently have a $3.00 price target on the stock. HC Wainwright also issued estimates for BTCS’s Q1 2024 earnings at ($0.05) EPS, Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.06) EPS and FY2024 earnings at ($0.23) EPS.

BTCS Stock Up 5.3 %

BTCS stock opened at $1.58 on Monday. BTCS has a 52 week low of $0.85 and a 52 week high of $2.50. The business has a 50-day simple moving average of $1.57 and a 200 day simple moving average of $1.36. The stock has a market cap of $24.79 million, a price-to-earnings ratio of 2.82 and a beta of 1.58.

BTCS (NASDAQ:BTCS) last issued its quarterly earnings results on Friday, March 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). BTCS had a negative return on equity of 38.81% and a net margin of 583.51%. The firm had revenue of $0.33 million during the quarter. On average, research analysts anticipate that BTCS will post -0.3 earnings per share for the current year.

Insider Activity

In other BTCS news, COO Michal Handerhan sold 28,165 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $1.51, for a total transaction of $42,529.15. Following the completion of the transaction, the chief operating officer now owns 1,683,331 shares of the company’s stock, valued at approximately $2,541,829.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Charles W. Allen sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $1.56, for a total value of $78,000.00. Following the sale, the chief executive officer now owns 4,264,220 shares in the company, valued at approximately $6,652,183.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michal Handerhan sold 28,165 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $1.51, for a total value of $42,529.15. Following the completion of the transaction, the chief operating officer now directly owns 1,683,331 shares in the company, valued at $2,541,829.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,703 shares of company stock valued at $191,568. Insiders own 40.20% of the company’s stock.

Hedge Funds Weigh In On BTCS

An institutional investor recently bought a new position in BTCS stock. Virtu Financial LLC purchased a new stake in shares of BTCS Inc. (NASDAQ:BTCS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 39,050 shares of the company’s stock, valued at approximately $64,000. Virtu Financial LLC owned 0.25% of BTCS at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.48% of the company’s stock.

BTCS Company Profile

BTCS Inc focuses on blockchain infrastructure and staking in the United States. The company secures blockchain-infrastructure operations and operates validator nodes on disruptive next-generation blockchain networks. It offers StakeSeeker, a cryptocurrency dashboard and staking-as-a-service platform that allows crypto asset holders to earn rewards by participating in network consensus mechanisms.