Short Interest in BTCS Inc. (NASDAQ:BTCS) Increases By 19.5%

BTCS Inc. (NASDAQ:BTCS) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 2,368,687 shares, a growth of 19.5% from the December 31st total of 1,981,892 shares. Based on an average daily trading volume, of 820,426 shares, the days-to-cover ratio is currently 2.9 days. Approximately 8.8% of the company’s stock are short sold. Approximately 8.8% of the company’s stock are short sold. Based on an average daily trading volume, of 820,426 shares, the days-to-cover ratio is currently 2.9 days.

BTCS Stock Down 2.1%

BTCS stock traded down $0.05 during midday trading on Tuesday, reaching $2.13. The stock had a trading volume of 766,624 shares, compared to its average volume of 754,854. 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 has a 12 month low of $1.25 and a 12 month high of $8.49. The company has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $3.85. The company has a market capitalization of $99.54 million, a P/E ratio of 2.95 and a beta of 3.13.

BTCS (NASDAQ:BTCS) last announced its quarterly 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). The business had revenue of $4.94 million during the quarter, compared to the consensus estimate of $3.00 million. BTCS had a net margin of 464.44% and a negative return on equity of 25.01%. As a group, equities analysts expect that BTCS will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling at BTCS

In related news, CEO Charles W. Allen acquired 67,501 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were purchased 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 SEC, which is accessible through the SEC website. Insiders have acquired 90,500 shares of company stock valued at $261,425 over the last three months. 42.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BTCS

A number of hedge funds and other institutional investors have recently bought and sold shares of BTCS. Nomura Holdings Inc. bought a new position in shares of BTCS in the 3rd quarter worth approximately $58,000. Millennium Management LLC bought a new position in shares of BTCS in the 3rd quarter worth about $449,000. Vident Advisory LLC bought a new position in shares of BTCS in the 3rd quarter worth about $750,000. Quantbot Technologies LP purchased a new position in BTCS during the 3rd quarter valued at about $125,000. Finally, Vanguard Group Inc. raised its stake in BTCS by 354.0% during the third quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock valued at $9,701,000 after buying an additional 1,565,996 shares during the last quarter. Institutional investors own 3.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research upgraded BTCS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BTCS in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.00.

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.