BTCS (NASDAQ:BTCS) Rating Increased to Hold at Wall Street Zen

BTCS (NASDAQ:BTCS) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

BTCS Price Performance

NASDAQ:BTCS opened at $2.17 on Friday. BTCS has a one year low of $0.95 and a one year high of $5.41. The company’s 50-day simple moving average is $2.15 and its 200 day simple moving average is $2.44. The firm has a market capitalization of $45.78 million, a P/E ratio of 5.29 and a beta of 1.24.

BTCS (NASDAQ:BTCS) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.14) EPS for the quarter. BTCS had a negative return on equity of 15.42% and a net margin of 366.80%. On average, equities research analysts expect that BTCS will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Charles W. Allen sold 85,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $1.37, for a total transaction of $116,450.00. Following the sale, the chief executive officer now owns 4,293,622 shares of the company’s stock, valued at $5,882,262.14. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 42.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in BTCS in the fourth quarter worth about $44,000. Invesco Ltd. purchased a new position in BTCS in the fourth quarter worth about $294,000. Geode Capital Management LLC raised its holdings in BTCS by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 98,019 shares of the company’s stock worth $242,000 after buying an additional 9,404 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in BTCS by 242.3% in the fourth quarter. Renaissance Technologies LLC now owns 127,391 shares of the company’s stock worth $315,000 after buying an additional 90,171 shares during the last quarter. 3.48% of the stock is owned by hedge funds and other institutional investors.

BTCS Company Profile

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.