BTCS (NASDAQ:BTCS) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of BTCS (NASDAQ:BTCS) in a research report sent to investors on Monday morning, Benzinga reports. HC Wainwright currently has a $3.00 price objective on the stock. HC Wainwright also issued estimates for BTCS’s Q1 2024 earnings at ($0.05) EPS, Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.06) EPS and FY2024 earnings at ($0.23) EPS.

BTCS Stock Performance

NASDAQ BTCS opened at $1.58 on Monday. The firm’s 50 day moving average price is $1.57 and its 200-day moving average price is $1.36. BTCS has a 52-week low of $0.85 and a 52-week high of $2.50. The company has a market cap of $24.79 million, a PE ratio of 2.82 and a beta of 1.58.

BTCS (NASDAQ:BTCS) last announced its earnings results on Friday, March 22nd. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). The company had revenue of $0.33 million during the quarter. BTCS had a net margin of 583.51% and a negative return on equity of 38.81%. On average, analysts forecast that BTCS will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at BTCS

In other news, COO Michal Handerhan sold 45,538 shares of BTCS stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $1.56, for a total value of $71,039.28. Following the sale, the chief operating officer now owns 1,718,340 shares in the company, valued at $2,680,610.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Charles W. Allen sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $1.56, for a total value of $78,000.00. Following the sale, the chief executive officer now directly owns 4,264,220 shares of the company’s stock, valued at approximately $6,652,183.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michal Handerhan sold 45,538 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $1.56, for a total transaction of $71,039.28. Following the completion of the sale, the chief operating officer now directly owns 1,718,340 shares in the company, valued at $2,680,610.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,703 shares of company stock valued at $191,568. Corporate insiders own 40.20% of the company’s stock.

Institutional Investors Weigh In On BTCS

A hedge fund recently bought a new stake in BTCS stock. Virtu Financial LLC purchased a new position in shares of BTCS Inc. (NASDAQ:BTCS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 39,050 shares of the company’s stock, valued at approximately $64,000. Virtu Financial LLC owned approximately 0.25% of BTCS as of its most recent SEC filing. Institutional investors own 3.48% of the company’s stock.

BTCS Company Profile

BTCS Inc focuses on blockchain infrastructure and staking in the United States. The company secures blockchain-infrastructure operations and operates validator nodes on disruptive next-generation blockchain networks. It offers StakeSeeker, a cryptocurrency dashboard and staking-as-a-service platform that allows crypto asset holders to earn rewards by participating in network consensus mechanisms.