BTCS (BTCS) Expected to Announce Quarterly Earnings on Thursday

BTCS (NASDAQ:BTCS) is expected to be posting its results before the market opens on Thursday, March 19th. Analysts expect BTCS to post earnings of $0.01 per share and revenue of $4.50 million for the quarter.

BTCS Stock Up 5.7%

BTCS stock opened at $1.84 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.78 and a current ratio of 4.78. The firm has a market capitalization of $86.19 million, a price-to-earnings ratio of 2.56 and a beta of 3.24. BTCS has a fifty-two week low of $1.25 and a fifty-two week high of $8.49. The stock’s fifty day moving average is $2.12 and its two-hundred day moving average is $3.21.

Hedge Funds Weigh In On BTCS

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of BTCS by 1,286.2% during the 4th quarter. State Street Corp now owns 2,529,760 shares of the company’s stock valued at $6,679,000 after buying an additional 2,347,260 shares during the period. Vanguard Group Inc. increased its holdings in shares of BTCS by 354.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock worth $9,701,000 after buying an additional 1,565,996 shares during the last quarter. Geode Capital Management LLC raised its position in shares of BTCS by 16.5% in the 4th quarter. Geode Capital Management LLC now owns 1,156,661 shares of the company’s stock worth $3,054,000 after buying an additional 164,113 shares during the period. Renaissance Technologies LLC purchased a new position in shares of BTCS in the 4th quarter worth $954,000. Finally, Vident Advisory LLC boosted its holdings in BTCS by 37.4% in the fourth quarter. Vident Advisory LLC now owns 213,338 shares of the company’s stock valued at $563,000 after acquiring an additional 58,113 shares during the last quarter. Institutional investors and hedge funds own 3.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of BTCS in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.00.

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.