BTCS (NASDAQ:BTCS) Stock Rating Upgraded by Wall Street Zen

BTCS (NASDAQ:BTCS) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of BTCS from a “hold (c)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.00.

BTCS Trading Up 1.0%

BTCS stock opened at $0.91 on Friday. The stock has a market cap of $47.68 million, a PE ratio of -0.26 and a beta of 3.32. The stock has a 50-day moving average price of $1.25 and a 200 day moving average price of $1.43. BTCS has a 52 week low of $0.83 and a 52 week high of $3.63. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.20.

BTCS (NASDAQ:BTCS) last announced its earnings results on Thursday, November 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.01 by $1.09. BTCS had a negative net margin of 856.40% and a negative return on equity of 9.17%. The firm had revenue of $4.09 million during the quarter, compared to the consensus estimate of $5.50 million.

Hedge Funds Weigh In On BTCS

Institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new position in BTCS during the second quarter worth about $30,000. Bank of New York Mellon Corp purchased a new stake in BTCS in the 2nd quarter valued at about $80,000. Finally, Renaissance Technologies LLC grew its holdings in BTCS by 192.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,057,100 shares of the company’s stock valued at $1,469,000 after buying an additional 695,555 shares during the period. 3.48% of the stock is currently owned by institutional investors and hedge funds.

BTCS Company Profile

BTCS Inc. is a blockchain infrastructure company focused on supporting proof-of-stake networks, including Ethereum. Its activities include operating validator nodes and providing staking-related services that help blockchain networks process and validate transactions. The company also develops Builder+, software designed to help Ethereum validators build blocks and optimize their participation in the network. Its business centers on blockchain infrastructure and services rather than consumer-facing products.