BTCS (NASDAQ:BTCS) CEO Charles Allen Purchases 67,501 Shares

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen bought 67,501 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $2.89 per share, for a total transaction of $195,077.89. Following the completion of the acquisition, the chief executive officer directly owned 4,666,506 shares in the company, valued at approximately $13,486,202.34. This trade represents a 1.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

BTCS Stock Performance

Shares of BTCS traded up $0.27 during mid-day trading on Thursday, hitting $3.06. 537,496 shares of the company’s stock were exchanged, compared to its average volume of 3,381,730. The firm has a market capitalization of $143.47 million, a P/E ratio of 4.24 and a beta of 1.19. BTCS Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $8.49. The business’s 50 day moving average is $4.20 and its two-hundred day moving average is $3.80. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.05.

BTCS (NASDAQ:BTCS) last announced its earnings results on Thursday, November 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $3.00 million. On average, equities analysts expect that BTCS Inc. will post -0.08 earnings per share for the current year.

BTCS Announces Dividend

The company also recently declared a dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, September 26th.

Institutional Trading of BTCS

Several institutional investors have recently made changes to their positions in BTCS. DLK Investment Management LLC lifted its position in BTCS by 13.3% during the second quarter. DLK Investment Management LLC now owns 32,392 shares of the company’s stock valued at $71,000 after buying an additional 3,792 shares in the last quarter. Nomura Holdings Inc. purchased a new position in BTCS in the third quarter valued at about $58,000. Millennium Management LLC acquired a new position in shares of BTCS during the third quarter worth about $449,000. Bank of America Corp DE boosted its position in shares of BTCS by 1,856.8% in 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 period. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of BTCS in the third quarter worth about $59,000. 3.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on BTCS shares. Zacks Research upgraded BTCS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. HC Wainwright upped their target price on shares of BTCS from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BTCS in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BTCS currently has a consensus rating of “Hold” and an average price target of $7.00.

BTCS Company Profile

BTCS Inc operates in blockchain technology sector the United States. Its blockchain-infrastructure secures and operates validator nodes on disruptive blockchain networks, as well as validates transactions for crypto holding delegations on dPoS blockchains. The company 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; and Builder+, a Ethereum block builder offered to maximize validator earnings by utilizing algorithms to construct optimized blocks for on-chain validation.