Key Points
- BTCS CEO Charles Allen sold 105,000 shares on Tuesday, June 9th at an average price of $1.27, totaling $133,350. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Allen still owned 7.41 million shares, and his stake fell by about 1.40%. BTCS stock was noted as up 1.3% in the report.
- BTCS has seen mixed signals: the company recently missed EPS expectations but beat revenue estimates, while analysts currently rate the stock Hold on average with a consensus target price of $5.00.
BTCS Inc. (NASDAQ:BTCS - Get Free Report) CEO Charles Allen sold 105,000 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $1.27, for a total transaction of $133,350.00. Following the completion of the sale, the chief executive officer owned 7,414,033 shares in the company, valued at $9,415,821.91. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
BTCS Stock Up 1.3%
NASDAQ:BTCS opened at $1.18 on Friday. BTCS Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $8.49. The stock has a market capitalization of $58.49 million, a P/E ratio of -0.48 and a beta of 3.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.90 and a current ratio of 2.90. The company's 50-day simple moving average is $1.71 and its 200-day simple moving average is $2.14.
BTCS (NASDAQ:BTCS - Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.06). BTCS had a negative net margin of 503.06% and a negative return on equity of 14.31%. The firm had revenue of $7.09 million during the quarter, compared to the consensus estimate of $4.50 million. On average, equities analysts anticipate that BTCS Inc. will post 0.02 earnings per share for the current fiscal year.
Hedge Funds Weigh In On BTCS
Several hedge funds and other institutional investors have recently modified their holdings of BTCS. Boothbay Fund Management LLC purchased a new position in shares of BTCS in the 4th quarter valued at approximately $42,000. Intesa Sanpaolo S.p.A. purchased a new position in BTCS during the 4th quarter worth approximately $43,000. Squarepoint Ops LLC purchased a new position in BTCS during the 4th quarter worth approximately $51,000. ACT Wealth Management LLC raised its position in BTCS by 66.7% during the 4th quarter. ACT Wealth Management LLC now owns 20,000 shares of the company's stock worth $53,000 after buying an additional 8,000 shares during the last quarter. Finally, Bank of America Corp DE raised its position in BTCS by 1,856.8% during the 3rd quarter. Bank of America Corp DE now owns 10,880 shares of the company's stock worth $53,000 after buying an additional 10,324 shares during the last quarter. 3.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on BTCS shares. Weiss Ratings restated a "hold (c)" rating on shares of BTCS in a report on Friday, March 27th. HC Wainwright lowered their price target on shares of BTCS from $7.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. Finally, Wall Street Zen cut shares of BTCS from a "hold" rating to a "strong sell" rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $5.00.
Check Out Our Latest Research Report on BTCS
BTCS Company Profile
(
Get Free Report)
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.
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