Renaissance Technologies LLC Acquires 695,555 Shares of BTCS Inc. $BTCS

Renaissance Technologies LLC increased its stake in BTCS Inc. (NASDAQ:BTCS) by 192.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,057,100 shares of the company’s stock after purchasing an additional 695,555 shares during the period. Renaissance Technologies LLC owned approximately 2.12% of BTCS worth $1,469,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in BTCS during the fourth quarter valued at approximately $92,000. Invesco Ltd. increased its holdings in shares of BTCS by 10.5% in the 4th quarter. Invesco Ltd. now owns 73,811 shares of the company’s stock worth $195,000 after buying an additional 6,997 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of BTCS by 37.4% in the 4th quarter. Vident Advisory LLC now owns 213,338 shares of the company’s stock worth $563,000 after buying an additional 58,113 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of BTCS by 81.0% in the 4th quarter. XTX Topco Ltd now owns 86,025 shares of the company’s stock worth $227,000 after buying an additional 38,488 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in shares of BTCS during the 4th quarter valued at $103,000. 3.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BTCS

In other news, CEO Charles W. Allen sold 168,000 shares of the company’s 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 685,000 shares of company stock valued at $812,110. Insiders own 16.90% of the company’s stock.

Analyst Ratings Changes

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

BTCS Stock Performance

Shares of NASDAQ BTCS opened at $1.09 on Thursday. The stock’s 50-day moving average is $1.10 and its 200 day moving average is $1.54. The stock has a market cap of $54.26 million, a price-to-earnings ratio of -0.44 and a beta of 3.41. BTCS Inc. has a 1-year low of $0.96 and a 1-year high of $6.15. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.18.

BTCS 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.