Charles Allen Buys 67,501 Shares of BTCS (NASDAQ:BTCS) Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen purchased 67,501 shares of the stock in a transaction on Wednesday, November 19th. The stock was acquired at an average cost of $2.89 per share, for a total transaction of $195,077.89. Following the acquisition, the chief executive officer directly owned 4,666,506 shares in the company, valued at approximately $13,486,202.34. This trade represents a 1.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

BTCS Price Performance

Shares of BTCS stock traded down $0.21 during trading hours on Wednesday, hitting $2.79. The company had a trading volume of 2,065,891 shares, compared to its average volume of 3,395,512. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.78 and a current ratio of 4.78. The firm’s fifty day moving average is $4.23 and its 200 day moving average is $3.81. BTCS Inc. has a 12 month low of $1.25 and a 12 month high of $8.49. The firm has a market capitalization of $130.68 million, a price-to-earnings ratio of 3.88 and a beta of 1.19.

BTCS (NASDAQ:BTCS) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.13). BTCS had a negative return on equity of 25.01% and a net margin of 464.44%.The business had revenue of $4.94 million for the quarter, compared to the consensus estimate of $3.00 million. On average, sell-side analysts predict that BTCS Inc. will post -0.08 EPS for the current fiscal year.

BTCS Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, September 26th.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Zacks Research upgraded BTCS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d)” rating on shares of BTCS in a research report on Wednesday, October 8th. Finally, HC Wainwright boosted their target price on shares of BTCS from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, August 15th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. DLK Investment Management LLC increased its position in shares of BTCS by 13.3% during the 2nd quarter. DLK Investment Management LLC now owns 32,392 shares of the company’s stock valued at $71,000 after purchasing an additional 3,792 shares during the last quarter. Geode Capital Management LLC grew its position in BTCS by 2.8% during the second quarter. Geode Capital Management LLC now owns 117,717 shares of the company’s stock valued at $259,000 after buying an additional 3,172 shares during the period. Invesco Ltd. purchased a new stake in BTCS during the second quarter worth about $293,000. Tidal Investments LLC purchased a new stake in BTCS during the second quarter worth about $54,000. Finally, ACT Wealth Management LLC bought a new stake in BTCS in the third quarter worth about $58,000. Hedge funds and other institutional investors own 3.48% of the company’s stock.

About BTCS

BTCS Inc operates in blockchain technology sector the United States. Its blockchain-infrastructure secures and operates validator nodes on disruptive blockchain networks, as well as validates transactions for crypto holding delegations on dPoS blockchains. The company 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; and Builder+, a Ethereum block builder offered to maximize validator earnings by utilizing algorithms to construct optimized blocks for on-chain validation.