BTCS Inc. (NASDAQ:BTCS) Short Interest Update

BTCS Inc. (NASDAQ:BTCS) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 2,368,687 shares, an increase of 19.5% from the December 31st total of 1,981,892 shares. Based on an average trading volume of 820,426 shares, the short-interest ratio is currently 2.9 days. Currently, 8.8% of the shares of the stock are short sold. Currently, 8.8% of the shares of the stock are short sold. Based on an average trading volume of 820,426 shares, the short-interest ratio is currently 2.9 days.

Analyst Ratings Changes

Several brokerages recently commented on BTCS. Zacks Research raised shares of BTCS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of BTCS in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.00.

Insider Buying and Selling

In other BTCS news, CEO Charles W. Allen bought 67,501 shares of the stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $2.89 per share, with a total value of $195,077.89. Following the completion of the purchase, the chief executive officer owned 4,666,506 shares in the company, valued at $13,486,202.34. The trade was a 1.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 90,500 shares of company stock worth $261,425 over the last three months. 42.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BTCS

A number of institutional investors have recently modified their holdings of BTCS. Bank of America Corp DE raised its stake in BTCS by 1,856.8% during the third quarter. Bank of America Corp DE now owns 10,880 shares of the company’s stock worth $53,000 after buying an additional 10,324 shares during the last quarter. ACT Wealth Management LLC grew its holdings in BTCS by 66.7% during the 4th quarter. ACT Wealth Management LLC now owns 20,000 shares of the company’s stock worth $53,000 after acquiring an additional 8,000 shares during the period. SG Americas Securities LLC bought a new position in shares of BTCS in the 3rd quarter worth about $53,000. Tidal Investments LLC bought a new stake in shares of BTCS during the 2nd quarter valued at about $54,000. Finally, Nomura Holdings Inc. acquired a new stake in BTCS during the third quarter worth approximately $58,000. 3.48% of the stock is owned by institutional investors.

BTCS Trading Down 8.7%

NASDAQ BTCS traded down $0.19 on Wednesday, reaching $1.95. The company had a trading volume of 242,997 shares, compared to its average volume of 732,279. The firm has a market cap of $91.10 million, a price-to-earnings ratio of 2.69 and a beta of 3.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.78 and a quick ratio of 4.78. BTCS has a fifty-two week low of $1.25 and a fifty-two week high of $8.49. The business has a 50 day moving average of $2.93 and a two-hundred day moving average of $3.82.

BTCS (NASDAQ:BTCS) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.13). BTCS had a net margin of 464.44% and a negative return on equity of 25.01%. The company had revenue of $4.94 million during the quarter, compared to the consensus estimate of $3.00 million. Analysts forecast that BTCS will post -0.08 EPS for the current year.

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.