BTCS (BTCS) Expected to Announce Earnings on Thursday

BTCS (NASDAQ:BTCS) is expected to release its results before the market opens on Thursday, March 19th. Analysts expect BTCS to post earnings of $0.01 per share and revenue of $4.50 million for the quarter.

BTCS Price Performance

Shares of BTCS opened at $1.81 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.78 and a current ratio of 4.78. The stock has a market cap of $84.78 million, a PE ratio of 2.51 and a beta of 3.24. The firm’s 50-day simple moving average is $2.10 and its two-hundred day simple moving average is $3.19. BTCS has a fifty-two week low of $1.25 and a fifty-two week high of $8.49.

Institutional Investors Weigh In On BTCS

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position 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 acquiring an additional 10,324 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in BTCS in the 3rd quarter valued at about $58,000. Boothbay Fund Management LLC purchased a new position in BTCS in the 4th quarter worth approximately $42,000. Intesa Sanpaolo S.p.A. purchased a new position in BTCS in the 4th quarter worth approximately $43,000. Finally, Squarepoint Ops LLC acquired a new position in shares of BTCS during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 3.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of BTCS in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.