BTCS (NASDAQ:BTCS) CEO Charles Allen Sells 165,000 Shares

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen sold 165,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $1.11, for a total value of $183,150.00. Following the completion of the transaction, the chief executive officer owned 7,099,033 shares of the company’s stock, valued at approximately $7,879,926.63. The trade was a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BTCS Trading Up 1.3%

BTCS opened at $1.18 on Friday. BTCS Inc. has a 52 week low of $1.07 and a 52 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. The stock has a market cap of $58.49 million, a PE ratio of -0.48 and a beta of 3.33. The business has a 50 day moving average of $1.71 and a 200-day moving average of $2.14.

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

Analysts Set New Price Targets

A number of research firms have recently commented on BTCS. HC Wainwright cut their target price on BTCS from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings reissued a “hold (c)” rating on shares of BTCS in a research note on Friday, March 27th. Finally, Wall Street Zen cut BTCS from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Institutional Trading of BTCS

A number of institutional investors and hedge funds have recently modified their holdings of BTCS. State Street Corp increased its holdings in shares of BTCS by 1,286.2% in the 4th quarter. State Street Corp now owns 2,529,760 shares of the company’s stock worth $6,679,000 after purchasing an additional 2,347,260 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of BTCS by 354.0% in the 3rd 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. Renaissance Technologies LLC increased its holdings in shares of BTCS by 192.4% in the 1st 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. Geode Capital Management LLC increased its holdings in shares of BTCS by 16.5% in the 4th 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. Finally, 683 Capital Management LLC bought a new stake in shares of BTCS in the 4th quarter worth $428,000. Institutional investors own 3.48% of the company’s stock.

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.