BTCS (NASDAQ:BTCS) Stock Lifted to “Sell” by Wall Street Zen

Wall Street Zen upgraded shares of BTCS (NASDAQ:BTCS) from a strong sell rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of BTCS from a “hold (c)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.00.

BTCS Stock Up 1.0%

NASDAQ BTCS traded up $0.01 during trading hours on Friday, hitting $0.91. 395,008 shares of the company traded hands, compared to its average volume of 743,717. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.06 and a current ratio of 2.06. The business’s 50-day moving average is $1.25 and its 200-day moving average is $1.43. The stock has a market capitalization of $47.68 million, a price-to-earnings ratio of -0.26 and a beta of 3.32. BTCS has a twelve month low of $0.83 and a twelve month high of $3.63.

BTCS (NASDAQ:BTCS) last posted its quarterly earnings results on Thursday, November 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.01 by $1.09. BTCS had a negative return on equity of 9.17% and a negative net margin of 856.40%. The firm had revenue of $4.09 million for the quarter, compared to analyst estimates of $5.50 million.

Institutional Trading of BTCS

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in BTCS by 192.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,057,100 shares of the company’s stock valued at $1,469,000 after acquiring an additional 695,555 shares during the period. Bank of New York Mellon Corp acquired a new stake in BTCS during the second quarter worth approximately $80,000. Finally, Engineers Gate Manager LP bought a new stake in shares of BTCS during the second quarter worth approximately $30,000. Institutional investors own 3.48% of the company’s stock.

BTCS Company Profile

BTCS Inc. is a blockchain infrastructure company focused on supporting proof-of-stake networks, including Ethereum. Its activities include operating validator nodes and providing staking-related services that help blockchain networks process and validate transactions. The company also develops Builder+, software designed to help Ethereum validators build blocks and optimize their participation in the network. Its business centers on blockchain infrastructure and services rather than consumer-facing products.