BTCS (NASDAQ:BTCS) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

BTCS (NASDAQ:BTCS) issued its earnings results on Friday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06), Zacks reports. The firm had revenue of $7.09 million during the quarter, compared to analysts’ expectations of $4.50 million. BTCS had a net margin of 464.44% and a negative return on equity of 25.01%.

BTCS Stock Performance

NASDAQ BTCS opened at $1.31 on Friday. BTCS has a twelve month low of $1.25 and a twelve month high of $8.49. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $1.88 and its 200 day moving average price is $3.05. The company has a market capitalization of $61.36 million, a PE ratio of -0.69 and a beta of 3.24.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen cut BTCS from a “hold” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of BTCS in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, BTCS presently has an average rating of “Hold” and an average target price of $7.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of BTCS by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 117,717 shares of the company’s stock valued at $259,000 after buying an additional 3,172 shares during the last quarter. Invesco Ltd. acquired a new position in BTCS during the second quarter worth $293,000. Tidal Investments LLC bought a new stake in BTCS during the second quarter worth $54,000. Vanguard Group Inc. lifted its stake in BTCS by 354.0% in the third quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock valued at $9,701,000 after acquiring an additional 1,565,996 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in BTCS in the third quarter valued at $125,000. 3.48% of the stock is owned by institutional investors and hedge funds.

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.