Charles Allen Sells 87,000 Shares of BTCS (NASDAQ:BTCS) Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen sold 87,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $1.15, for a total transaction of $100,050.00. Following the completion of the sale, the chief executive officer directly owned 7,012,033 shares in the company, valued at $8,063,837.95. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BTCS Trading Up 0.4%

BTCS stock traded up $0.01 during midday trading on Tuesday, reaching $1.21. The stock had a trading volume of 1,627,137 shares, compared to its average volume of 847,683. 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 52-week low of $1.07 and a 52-week high of $8.49. The firm has a market cap of $59.98 million, a price-to-earnings ratio of -0.49 and a beta of 3.33. The company has a fifty day moving average of $1.70 and a 200 day moving average of $2.11.

BTCS (NASDAQ:BTCS) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). BTCS had a negative return on equity of 14.31% and a negative net margin of 503.06%.The firm had revenue of $7.09 million during the quarter, compared to analysts’ expectations of $4.50 million. On average, analysts anticipate that BTCS Inc. will post 0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

BTCS has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of BTCS from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 28th. HC Wainwright reduced their price objective on shares of BTCS from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of BTCS in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.00.

Hedge Funds Weigh In On BTCS

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of BTCS by 192.4% during the first quarter. Renaissance Technologies LLC now owns 1,057,100 shares of the company’s stock valued at $1,469,000 after buying an additional 695,555 shares during the period. Virtu Financial LLC purchased a new position in BTCS during the fourth quarter valued at approximately $92,000. Invesco Ltd. increased its holdings in BTCS by 10.5% during the fourth quarter. Invesco Ltd. now owns 73,811 shares of the company’s stock valued at $195,000 after buying an additional 6,997 shares during the period. Vident Advisory LLC increased its holdings in BTCS by 37.4% during the fourth quarter. Vident Advisory LLC now owns 213,338 shares of the company’s stock valued at $563,000 after buying an additional 58,113 shares during the period. Finally, XTX Topco Ltd increased its holdings in BTCS by 81.0% during the fourth quarter. XTX Topco Ltd now owns 86,025 shares of the company’s stock valued at $227,000 after buying an additional 38,488 shares during the period. Hedge funds and other institutional investors own 3.48% of the company’s stock.

BTCS Company Profile

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.