BTCS (BTCS) Projected to Post Earnings on Wednesday

BTCS (NASDAQ:BTCS) is expected to announce its results before the market opens on Wednesday, November 12th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter.

BTCS (NASDAQ:BTCS) last issued its earnings results on Wednesday, August 13th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $2.77 million during the quarter, compared to analyst estimates of $1.70 million. BTCS had a negative return on equity of 51.90% and a negative net margin of 268.37%. On average, analysts expect BTCS to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

BTCS Stock Up 4.3%

Shares of BTCS stock opened at $3.14 on Monday. The firm has a market cap of $150.88 million, a price-to-earnings ratio of -2.75 and a beta of 1.19. The stock has a 50-day simple moving average of $4.42 and a 200-day simple moving average of $3.76. BTCS has a 52-week low of $1.25 and a 52-week high of $8.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 8.19 and a quick ratio of 8.19.

BTCS Dividend Announcement

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

Insider Buying and Selling at BTCS

In related news, CEO Charles W. Allen sold 50,000 shares of BTCS stock in a transaction on Monday, August 18th. The shares were sold at an average price of $4.77, for a total value of $238,500.00. Following the transaction, the chief executive officer owned 4,579,506 shares in the company, valued at $21,844,243.62. This trade represents a 1.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 42.80% of the company’s stock.

Hedge Funds Weigh In On BTCS

A number of institutional investors have recently made changes to their positions in BTCS. Vanguard Group Inc. lifted its position in shares of BTCS by 354.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock worth $9,701,000 after purchasing an additional 1,565,996 shares during the last quarter. Invesco Ltd. bought a new position in BTCS in the 2nd quarter worth approximately $293,000. Tidal Investments LLC acquired a new position in shares of BTCS during the second quarter worth approximately $54,000. Finally, Geode Capital Management LLC boosted its position 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 period. 3.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BTCS has been the subject of several recent research reports. HC Wainwright boosted their target price on shares of BTCS from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Zacks Research cut shares of BTCS from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of BTCS in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $7.00.

About BTCS

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.