Benjamin Henry Hunter Sells 10,000 Shares of BTCS (NASDAQ:BTCS) Stock

BTCS Inc. (NASDAQ:BTCS) insider Benjamin Henry Hunter sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $1.21, for a total value of $12,100.00. Following the completion of the sale, the insider directly owned 1,278,018 shares in the company, valued at approximately $1,546,401.78. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

BTCS Stock Performance

Shares of BTCS opened at $1.13 on Friday. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $1.70 and its 200-day moving average price is $2.13. BTCS Inc. has a 52 week low of $1.07 and a 52 week high of $8.49. The stock has a market cap of $56.25 million, a P/E ratio of -0.46 and a beta of 3.33.

BTCS (NASDAQ:BTCS) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). BTCS had a negative return on equity of 14.31% and a negative net margin of 503.06%.The company had revenue of $7.09 million during the quarter, compared to the consensus estimate of $4.50 million. Equities research analysts anticipate that BTCS Inc. will post 0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on BTCS. Weiss Ratings reissued a “hold (c)” rating on shares of BTCS in a research report on Friday, March 27th. HC Wainwright lowered their price objective on BTCS from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Finally, Wall Street Zen cut BTCS from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, BTCS has an average rating of “Hold” and an average price target of $5.00.

Hedge Funds Weigh In On BTCS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in BTCS by 2.8% in the 2nd 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 in the last quarter. Invesco Ltd. lifted its position in BTCS by 10.5% in the 4th quarter. Invesco Ltd. now owns 73,811 shares of the company’s stock valued at $195,000 after acquiring an additional 6,997 shares in the last quarter. ACT Wealth Management LLC lifted its position in BTCS by 66.7% in the 4th quarter. ACT Wealth Management LLC now owns 20,000 shares of the company’s stock valued at $53,000 after acquiring an additional 8,000 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in BTCS by 7.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 116,591 shares of the company’s stock valued at $308,000 after acquiring an additional 8,422 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in BTCS by 1,856.8% in the 3rd quarter. Bank of America Corp DE now owns 10,880 shares of the company’s stock valued at $53,000 after acquiring an additional 10,324 shares in the last quarter. 3.48% of the stock is owned by institutional investors.

BTCS Company Profile

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.