BTCS Inc. (NASDAQ:BTCS) Short Interest Up 51.0% in February

BTCS Inc. (NASDAQ:BTCSGet Free Report) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 58,000 shares, a growth of 51.0% from the January 31st total of 38,400 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 339,500 shares, the days-to-cover ratio is currently 0.2 days.

Insider Activity at BTCS

In other news, CEO Charles W. Allen sold 50,000 shares of BTCS stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $1.56, for a total transaction of $78,000.00. Following the completion of the sale, the chief executive officer now owns 4,264,220 shares of the company’s stock, valued at $6,652,183.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 40.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BTCS

A hedge fund recently bought a new stake in BTCS stock. Virtu Financial LLC purchased a new stake in BTCS Inc. (NASDAQ:BTCSFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 39,050 shares of the company’s stock, valued at approximately $64,000. Virtu Financial LLC owned approximately 0.25% of BTCS at the end of the most recent quarter. Hedge funds and other institutional investors own 3.54% of the company’s stock.

BTCS Price Performance

BTCS stock traded down $0.01 during midday trading on Friday, reaching $1.68. The company had a trading volume of 166,390 shares, compared to its average volume of 205,348. BTCS has a 1-year low of $0.85 and a 1-year high of $2.50. The company’s 50 day simple moving average is $1.74. The stock has a market capitalization of $26.36 million, a P/E ratio of -5.42 and a beta of 1.59.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of BTCS in a research note on Thursday, January 25th.

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BTCS Company Profile

(Get Free Report)

BTCS Inc focuses on blockchain infrastructure and staking in the United States. The company secures blockchain-infrastructure operations and operates validator nodes on disruptive next-generation blockchain networks. It 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.

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