BTCS (NASDAQ:BTCS) Trading Down 2.1% – Time to Sell?

BTCS Inc. (NASDAQ:BTCS)’s share price fell 2.1% on Tuesday . The company traded as low as $1.36 and last traded at $1.41. Approximately 1,761,700 shares changed hands during trading, a decline of 34% from the average session volume of 2,661,780 shares. The stock had previously closed at $1.44.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of BTCS in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

BTCS Trading Down 1.5%

The company has a 50-day moving average of $1.17 and a 200 day moving average of $1.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.06 and a quick ratio of 2.06. The company has a market cap of $69.26 million, a PE ratio of -0.40 and a beta of 3.38.

BTCS (NASDAQ:BTCS) last posted its quarterly earnings data on Wednesday, August 19th. The company reported ($0.70) earnings per share (EPS) for the quarter. The company had revenue of $2.45 million during the quarter. BTCS had a negative net margin of 746.29% and a negative return on equity of 14.40%.

Insider Buying and Selling at BTCS

In other news, CEO Charles Allen sold 168,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $1.22, for a total value of $204,960.00. Following the sale, the chief executive officer owned 6,844,033 shares of the company’s stock, valued at approximately $8,349,720.26. This represents a 2.40% decrease in their ownership of the stock. The sale 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. Corporate insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On BTCS

Several hedge funds have recently added to or reduced their stakes in BTCS. Engineers Gate Manager LP bought a new stake in BTCS in the second quarter worth about $30,000. Boothbay Fund Management LLC bought a new stake in shares of BTCS during the 4th quarter worth approximately $42,000. Intesa Sanpaolo S.p.A. purchased a new position in BTCS during the 4th quarter valued at $43,000. Squarepoint Ops LLC bought a new position in BTCS in the 4th quarter valued at $51,000. Finally, Bank of America Corp DE lifted its position in shares of 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 purchasing an additional 10,324 shares during the last quarter. 3.48% of the stock is currently owned by institutional investors.

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.