Insider Selling: BTCS (NASDAQ:BTCS) Insider Sells $12,100.00 in Stock

BTCS Inc. (NASDAQ:BTCS) insider Benjamin Henry Hunter sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $1.21, for a total transaction of $12,100.00. Following the transaction, the insider owned 1,278,018 shares of the company’s stock, valued at approximately $1,546,401.78. This represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

BTCS Price Performance

Shares of BTCS opened at $1.13 on Monday. The stock has a market cap of $56.25 million, a price-to-earnings ratio of -0.46 and a beta of 3.33. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.18. BTCS Inc. has a 12 month low of $1.07 and a 12 month high of $8.49. The company has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $2.13.

BTCS (NASDAQ:BTCS) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The business had revenue of $7.09 million for the quarter, compared to the consensus estimate of $4.50 million. BTCS had a negative return on equity of 14.31% and a negative net margin of 503.06%. Equities analysts predict that BTCS Inc. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of BTCS by 2.8% in the second quarter. Geode Capital Management LLC now owns 117,717 shares of the company’s stock valued at $259,000 after acquiring an additional 3,172 shares during the last quarter. Invesco Ltd. raised its stake in shares of BTCS by 10.5% in the fourth quarter. Invesco Ltd. now owns 73,811 shares of the company’s stock valued at $195,000 after acquiring an additional 6,997 shares during the last quarter. ACT Wealth Management LLC raised its stake in shares of BTCS by 66.7% in the fourth quarter. ACT Wealth Management LLC now owns 20,000 shares of the company’s stock valued at $53,000 after acquiring an additional 8,000 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of BTCS by 7.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 116,591 shares of the company’s stock valued at $308,000 after acquiring an additional 8,422 shares during the last quarter. Finally, Bank of America Corp DE raised its position in BTCS by 1,856.8% in the 3rd quarter. Bank of America Corp DE now owns 10,880 shares of the company’s stock worth $53,000 after purchasing an additional 10,324 shares during the last quarter. Institutional investors own 3.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. HC Wainwright cut their target price on shares of BTCS from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Wall Street Zen cut shares of BTCS from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of BTCS in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.00.

About BTCS

BTCS, Inc (NASDAQ: BTCS) is a digital asset technology company focused on blockchain infrastructure and related investments. Originally founded in 2012 as Bitcoin Shop, Inc, the company pivoted in 2018 to concentrate on blockchain technology applications, digital asset management and strategic investments in early-stage ventures. BTCS holds a diversified portfolio that includes cryptocurrency mining equipment, digital wallets, and equity stakes in promising blockchain startups.

In its mining operations, BTCS acquires and manages mining hardware to secure blockchain networks and generate newly minted digital tokens.