BTCS (NASDAQ:BTCS) CEO Sells $178,500.00 in Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen sold 150,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $1.19, for a total transaction of $178,500.00. Following the sale, the chief executive officer directly owned 7,264,033 shares in the company, valued at $8,644,199.27. The trade was a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BTCS Stock Up 1.3%

BTCS stock traded up $0.02 during trading hours on Thursday, hitting $1.18. The stock had a trading volume of 1,203,831 shares, compared to its average volume of 830,795. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $58.49 million, a P/E ratio of -0.48 and a beta of 3.33. BTCS Inc. has a 12-month low of $1.07 and a 12-month high of $8.49. The stock’s 50-day moving average price is $1.71 and its 200-day moving average price is $2.15.

BTCS (NASDAQ:BTCS) last issued its earnings results 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 firm had revenue of $7.09 million during the quarter, compared to analysts’ expectations of $4.50 million. BTCS had a negative return on equity of 14.31% and a negative net margin of 503.06%. Equities research analysts anticipate that BTCS Inc. will post 0.02 EPS for the current fiscal year.

Institutional Trading of BTCS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its stake in 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 purchasing an additional 2,347,260 shares during the period. Vanguard Group Inc. raised its stake in BTCS by 354.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock valued at $9,701,000 after purchasing an additional 1,565,996 shares during the period. Geode Capital Management LLC raised its stake in BTCS by 16.5% during the 4th quarter. Geode Capital Management LLC now owns 1,156,661 shares of the company’s stock valued at $3,054,000 after purchasing an additional 164,113 shares during the period. Renaissance Technologies LLC raised its stake in BTCS by 192.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,057,100 shares of the company’s stock valued at $1,469,000 after purchasing an additional 695,555 shares during the period. Finally, Vident Advisory LLC boosted its position in shares of BTCS by 37.4% during the fourth quarter. Vident Advisory LLC now owns 213,338 shares of the company’s stock worth $563,000 after acquiring an additional 58,113 shares during the last quarter. Institutional investors own 3.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BTCS. Wall Street Zen cut shares of BTCS from a “hold” rating to a “strong sell” rating in a report on Saturday, March 28th. HC Wainwright decreased their price objective on shares of BTCS from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of BTCS in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently 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.