BTCS Inc. (NASDAQ:BTCS) Stock Short Interest Report for October

BTCS Inc. (NASDAQ:BTCS) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 3,081,344 shares, an increase of 92.4% from the September 30th total of 1,601,316 shares. Based on an average daily volume of 1,086,466 shares, the short-interest ratio is presently 2.8 days. Approximately 7.1% of the company’s shares are sold short.

Institutional Trading of BTCS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTCS. Renaissance Technologies LLC lifted its position in BTCS by 192.4% during the first quarter. Renaissance Technologies LLC now owns 1,057,100 shares of the company’s stock valued at $1,469,000 after purchasing an additional 695,555 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of BTCS in the 2nd quarter worth about $80,000. Finally, Engineers Gate Manager LP purchased a new position in shares of BTCS in the 2nd quarter worth approximately $30,000. 3.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of BTCS from a “hold (c)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.00.

BTCS Price Performance

Shares of NASDAQ:BTCS opened at $1.04 on Friday. The business has a fifty day moving average price of $1.34 and a 200-day moving average price of $1.53. BTCS has a 1-year low of $0.96 and a 1-year high of $3.75. 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 capitalization of $54.57 million, a PE ratio of -0.31 and a beta of 3.29.

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

BTCS Company Profile

BTCS Inc (NASDAQ: BTCS) is a blockchain technology company focused primarily on the Ethereum ecosystem. The company seeks to build and operate blockchain infrastructure that supports network security, transaction validation and participation in decentralized networks.

BTCS’s activities include operating Ethereum validator nodes and pursuing blockchain-related infrastructure and staking opportunities. Through these operations, the company participates in the proof-of-stake process that helps secure and maintain supported blockchain networks.