BTCS Inc. (NASDAQ:BTCS) Short Interest Update

BTCS Inc. (NASDAQ:BTCS) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 1,981,892 shares, an increase of 34.5% from the December 15th total of 1,473,350 shares. Currently, 7.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,285,928 shares, the days-to-cover ratio is currently 1.5 days. Based on an average daily trading volume, of 1,285,928 shares, the days-to-cover ratio is currently 1.5 days. Currently, 7.4% of the company’s stock are sold short.

BTCS Stock Up 1.0%

BTCS stock opened at $2.90 on Monday. BTCS has a twelve month low of $1.25 and a twelve month high of $8.49. 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 firm has a market cap of $135.84 million, a PE ratio of 4.03 and a beta of 1.54. The firm’s 50 day moving average price is $3.01 and its two-hundred day moving average price is $3.99.

BTCS (NASDAQ:BTCS) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.15) EPS 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 for the quarter, compared to analysts’ expectations of $3.00 million. On average, research analysts predict that BTCS will post -0.08 EPS for the current fiscal year.

Insider Transactions at BTCS

In related news, CEO Charles W. Allen purchased 67,501 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average price of $2.89 per share, with a total value of $195,077.89. Following the acquisition, the chief executive officer owned 4,666,506 shares in the company, valued at approximately $13,486,202.34. This trade represents a 1.47% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired 90,500 shares of company stock worth $261,425 in the last quarter. Company insiders own 42.80% of the company’s stock.

Institutional Trading of BTCS

Several large investors have recently added to or reduced their stakes in BTCS. Vanguard Group Inc. boosted its holdings in BTCS by 354.0% in the third quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock worth $9,701,000 after purchasing an additional 1,565,996 shares in the last quarter. Vident Advisory LLC acquired a new position in BTCS during the 3rd quarter worth $750,000. Invesco Ltd. bought a new stake in BTCS during the second quarter valued at about $293,000. Geode Capital Management LLC grew its position 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 purchasing an additional 3,172 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of BTCS in the third quarter worth about $449,000. 3.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of BTCS in a report on Monday, December 29th. Zacks Research upgraded BTCS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, BTCS has a consensus 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.