BTCS (NASDAQ:BTCS) CEO Sells $100,050.00 in Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen sold 87,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $1.15, for a total transaction of $100,050.00. Following the sale, the chief executive officer owned 7,012,033 shares of the company’s stock, valued at approximately $8,063,837.95. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BTCS Price Performance

Shares of BTCS stock opened at $1.10 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.90 and a quick ratio of 2.90. The company has a market capitalization of $54.76 million, a PE ratio of -0.45 and a beta of 3.33. The firm’s 50-day moving average is $1.68 and its two-hundred day moving average is $2.07. BTCS Inc. has a 12 month low of $1.06 and a 12 month high of $8.49.

BTCS (NASDAQ:BTCS) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). The firm had revenue of $7.09 million during the quarter, compared to analysts’ expectations of $4.50 million. BTCS had a negative net margin of 503.06% and a negative return on equity of 14.31%. Analysts predict that BTCS Inc. will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On BTCS

Several large investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in BTCS by 1,286.2% in the 4th quarter. State Street Corp now owns 2,529,760 shares of the company’s stock valued at $6,679,000 after purchasing an additional 2,347,260 shares during the last quarter. Vanguard Group Inc. raised its position in BTCS by 354.0% in the third quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock valued at $9,701,000 after purchasing an additional 1,565,996 shares during the period. Geode Capital Management LLC lifted its stake in BTCS by 16.5% during the fourth quarter. Geode Capital Management LLC now owns 1,156,661 shares of the company’s stock worth $3,054,000 after purchasing an additional 164,113 shares in the last quarter. Renaissance Technologies LLC lifted its stake in BTCS by 192.4% during the first quarter. Renaissance Technologies LLC now owns 1,057,100 shares of the company’s stock worth $1,469,000 after purchasing an additional 695,555 shares in the last quarter. Finally, Vident Advisory LLC boosted its position in shares of BTCS by 37.4% during the fourth quarter. Vident Advisory LLC now owns 213,338 shares of the company’s stock worth $563,000 after buying an additional 58,113 shares during the period. 3.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BTCS has been the subject of several analyst reports. Wall Street Zen lowered BTCS from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 28th. HC Wainwright decreased their price target on BTCS from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of BTCS in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.00.

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.