BTCS (NASDAQ:BTCS) CEO Sells $204,960.00 in Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen sold 168,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $1.22, for a total transaction of $204,960.00. Following the completion of the sale, the chief executive officer directly owned 6,844,033 shares of the company’s stock, valued at $8,349,720.26. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BTCS Trading Up 0.4%

NASDAQ BTCS traded up $0.01 on Tuesday, hitting $1.21. 1,627,137 shares of the company were exchanged, compared to its average volume of 847,683. The company’s 50 day moving average price is $1.70 and its 200-day moving average price is $2.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.90 and a quick ratio of 2.90. The firm has a market capitalization of $59.98 million, a P/E ratio of -0.49 and a beta of 3.33. BTCS Inc. has a twelve month low of $1.07 and a twelve month high of $8.49.

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

Hedge Funds Weigh In On BTCS

Hedge funds have recently added to or reduced their stakes in the company. Boothbay Fund Management LLC acquired a new position in BTCS in the fourth quarter worth approximately $42,000. Intesa Sanpaolo S.p.A. acquired a new position in BTCS in the fourth quarter worth approximately $43,000. Squarepoint Ops LLC acquired a new position in BTCS in the fourth quarter worth approximately $51,000. ACT Wealth Management LLC increased its holdings in BTCS by 66.7% in the fourth quarter. ACT Wealth Management LLC now owns 20,000 shares of the company’s stock worth $53,000 after buying an additional 8,000 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in BTCS by 1,856.8% in the third quarter. Bank of America Corp DE now owns 10,880 shares of the company’s stock worth $53,000 after buying an additional 10,324 shares during the last quarter. Institutional investors and hedge funds own 3.48% of the company’s stock.

Analyst Upgrades and Downgrades

BTCS has been the topic of several recent analyst reports. Wall Street Zen downgraded BTCS from a “hold” rating to a “strong sell” rating in a report on Saturday, March 28th. Weiss Ratings restated a “hold (c)” rating on shares of BTCS in a report on Friday, March 27th. Finally, HC Wainwright dropped their target price on BTCS from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.00.

About BTCS

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.