Key Points
- Insider sale: BTCS insider Benjamin Henry Hunter sold 10,000 shares on June 10 at an average price of $1.21, totaling $12,100. After the transaction, he still owned 1,278,018 shares.
- Mixed company performance: BTCS recently reported a quarterly loss of $0.05 per share, missing analyst expectations, even though revenue of $7.09 million came in above estimates. The stock was trading near $1.13, close to its 12-month low of $1.07.
- Analyst sentiment remains cautious: Wall Street currently has a consensus Hold rating on BTCS with an average price target of $5.00, while recent opinions have ranged from a Buy to a Strong Sell.
BTCS Inc. (NASDAQ:BTCS - Get Free Report) insider Benjamin Henry Hunter sold 10,000 shares of BTCS stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $1.21, for a total transaction of $12,100.00. Following the completion of the sale, the insider directly owned 1,278,018 shares of the company's stock, valued at approximately $1,546,401.78. The trade was a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
BTCS Stock Performance
NASDAQ BTCS opened at $1.13 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $1.70 and a 200 day simple moving average of $2.13. BTCS Inc. has a 12-month low of $1.07 and a 12-month high of $8.49. The company has a market cap of $56.25 million, a P/E ratio of -0.46 and a beta of 3.33.
BTCS (NASDAQ:BTCS - Get Free Report) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $7.09 million for the quarter, compared to the consensus estimate of $4.50 million. Sell-side analysts predict that BTCS Inc. will post 0.02 earnings per share for the current fiscal year.
Institutional Investors Weigh In On BTCS
Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of BTCS by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 117,717 shares of the company's stock valued at $259,000 after purchasing an additional 3,172 shares during the last quarter. Invesco Ltd. increased its position in shares of BTCS by 10.5% during the 4th quarter. Invesco Ltd. now owns 73,811 shares of the company's stock valued at $195,000 after purchasing an additional 6,997 shares during the last quarter. ACT Wealth Management LLC increased its holdings in BTCS by 66.7% in the 4th quarter. ACT Wealth Management LLC now owns 20,000 shares of the company's stock worth $53,000 after acquiring an additional 8,000 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in BTCS by 7.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 116,591 shares of the company's stock worth $308,000 after acquiring an additional 8,422 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in BTCS by 1,856.8% in the 3rd quarter. Bank of America Corp DE now owns 10,880 shares of the company's stock worth $53,000 after acquiring an additional 10,324 shares during the last quarter. 3.48% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BTCS has been the topic of several recent analyst reports. HC Wainwright dropped their price objective on BTCS from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, March 31st. Wall Street Zen cut BTCS from a "hold" rating to a "strong sell" rating in a research note on Saturday, March 28th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of BTCS in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, BTCS has a consensus rating of "Hold" and an average price target of $5.00.
View Our Latest Analysis on BTCS
About BTCS
(
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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