BTCS (BTCS) Expected to Announce Earnings on Thursday

BTCS (NASDAQ:BTCS) is expected to be releasing its results before the market opens on Thursday, March 19th. Analysts expect BTCS to post earnings of $0.01 per share and revenue of $4.50 million for the quarter.

BTCS Stock Performance

Shares of NASDAQ BTCS opened at $1.80 on Thursday. BTCS has a 12-month low of $1.25 and a 12-month high of $8.49. The firm has a market capitalization of $84.31 million, a price-to-earnings ratio of 2.50 and a beta of 3.24. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $2.19 and a 200 day moving average of $3.27.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of BTCS in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, BTCS presently has a consensus rating of “Hold” and an average target price of $7.00.

Hedge Funds Weigh In On BTCS

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of BTCS by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 117,717 shares of the company’s stock valued at $259,000 after purchasing an additional 3,172 shares during the period. Invesco Ltd. bought a new position in BTCS in the 2nd quarter worth $293,000. Tidal Investments LLC purchased a new stake in BTCS in the 2nd quarter worth $54,000. Vanguard Group Inc. raised its holdings in BTCS by 354.0% during the third quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock valued at $9,701,000 after acquiring an additional 1,565,996 shares during the period. Finally, Quantbot Technologies LP bought a new stake in BTCS during the third quarter valued at about $125,000. Hedge funds and other institutional investors own 3.48% of the company’s stock.

About BTCS

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.