BTCS Inc. (NASDAQ:BTCS) Short Interest Update

BTCS Inc. (NASDAQ:BTCS) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 2,110,000 shares, a drop of 30.4% from the September 15th total of 3,030,000 shares. Currently, 7.1% of the company’s shares are sold short. Based on an average trading volume of 6,600,000 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 6,600,000 shares, the days-to-cover ratio is presently 0.3 days. Currently, 7.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

BTCS has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of BTCS in a report on Friday. HC Wainwright upped 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. Finally, Zacks Research lowered shares of BTCS from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $7.00.

Insider Transactions at BTCS

In other BTCS news, CEO Charles W. Allen sold 50,000 shares of BTCS stock in a transaction on Monday, August 18th. The stock was sold at an average price of $4.77, for a total value of $238,500.00. Following the sale, the chief executive officer owned 4,579,506 shares in the company, valued at $21,844,243.62. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 42.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BTCS

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. grew its stake in shares of BTCS by 39.7% in the first quarter. SBI Securities Co. Ltd. now owns 24,846 shares of the company’s stock worth $37,000 after acquiring an additional 7,064 shares in the last quarter. SG Americas Securities LLC purchased a new stake in BTCS during the 3rd quarter worth about $53,000. Tidal Investments LLC acquired a new stake in BTCS in the 2nd quarter valued at about $54,000. ACT Wealth Management LLC acquired a new stake in BTCS in the 3rd quarter valued at about $58,000. Finally, DLK Investment Management LLC boosted its stake in shares of BTCS by 13.3% in the 2nd quarter. DLK Investment Management LLC now owns 32,392 shares of the company’s stock valued at $71,000 after buying an additional 3,792 shares during the period. 3.48% of the stock is currently owned by institutional investors and hedge funds.

BTCS Price Performance

BTCS stock opened at $4.07 on Friday. The company has a current ratio of 8.19, a quick ratio of 8.19 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $195.56 million, a PE ratio of -3.57 and a beta of 1.28. BTCS has a 12-month low of $1.17 and a 12-month high of $8.49. The business’s fifty day moving average price is $4.61 and its 200 day moving average price is $3.58.

BTCS (NASDAQ:BTCS) last announced its earnings results on Wednesday, August 13th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $2.77 million for the quarter, compared to analysts’ expectations of $1.70 million. BTCS had a negative net margin of 268.37% and a negative return on equity of 51.90%. On average, sell-side analysts anticipate that BTCS will post -0.08 EPS for the current year.

BTCS Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.05 dividend. The ex-dividend date was Friday, September 26th.

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.