BTCS (NASDAQ:BTCS) Issues Quarterly Earnings Results

BTCS (NASDAQ:BTCS) announced its quarterly earnings data on Thursday. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.01 by $1.09, FiscalAI reports. The firm had revenue of $4.09 million during the quarter, compared to analysts’ expectations of $5.50 million. BTCS had a negative return on equity of 14.40% and a negative net margin of 746.29%.

BTCS Price Performance

Shares of BTCS traded down $0.05 during midday trading on Thursday, hitting $0.89. The company’s stock had a trading volume of 339,578 shares, compared to its average volume of 1,096,533. The company’s fifty day simple moving average is $1.27 and its two-hundred day simple moving average is $1.45. The stock has a market capitalization of $46.75 million, a price-to-earnings ratio of -0.27 and a beta of 3.32. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.20. BTCS has a one year low of $0.83 and a one year high of $3.63.

Analyst Ratings Changes

Separately, Weiss Ratings lowered BTCS from a “hold (c)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BTCS currently has a consensus rating of “Hold” and an average target price of $5.00.

About BTCS

BTCS Inc. (NASDAQ: BTCS) is a blockchain technology company focused primarily on the Ethereum ecosystem. The company seeks to build and operate blockchain infrastructure that supports network security, transaction validation and participation in decentralized networks. BTCS’s activities include operating Ethereum validator nodes and pursuing blockchain-related infrastructure and staking opportunities. Through these operations, the company participates in the proof-of-stake process that helps secure and maintain supported blockchain networks.