BTCS (NASDAQ:BTCS) CEO Sells $178,500.00 in Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen sold 150,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $1.19, for a total value of $178,500.00. Following the completion of the sale, the chief executive officer owned 7,264,033 shares in the company, valued at $8,644,199.27. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BTCS Stock Down 4.2%

BTCS stock opened at $1.13 on Friday. The stock has a market cap of $56.25 million, a PE ratio of -0.46 and a beta of 3.33. The firm’s 50-day simple moving average is $1.70 and its 200 day simple moving average is $2.13. BTCS Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $8.49. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.18.

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

Institutional Trading of BTCS

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of BTCS by 2.8% in the second quarter. Geode Capital Management LLC now owns 117,717 shares of the company’s stock valued at $259,000 after acquiring an additional 3,172 shares in the last quarter. Invesco Ltd. bought a new stake in BTCS during the second quarter worth approximately $293,000. Tidal Investments LLC acquired a new stake in BTCS in the second quarter worth approximately $54,000. Vanguard Group Inc. boosted its stake in BTCS by 354.0% during the 3rd 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 in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of BTCS during the 3rd quarter valued at $125,000. 3.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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