Key Points
- BTCS CEO Charles Allen sold 168,000 shares on Monday, June 15 at an average price of $1.22, for total proceeds of $204,960. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Allen still owned 6,844,033 shares, and his position fell by about 2.4%. BTCS shares were recently trading near $1.19, close to their 12-month low of $1.07.
- Analysts remain cautious on the stock, with an average rating of Hold and a consensus price target of $5.00. BTCS most recently reported a quarterly EPS miss, though revenue came in above expectations.
BTCS Inc. (NASDAQ:BTCS - Get Free Report) CEO Charles Allen sold 87,000 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $1.15, for a total value of $100,050.00. Following the completion of the sale, the chief executive officer directly owned 7,012,033 shares of the company's stock, valued at $8,063,837.95. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
BTCS Stock Performance
NASDAQ BTCS opened at $1.19 on Wednesday. The stock has a market cap of $59.24 million, a PE ratio of -0.48 and a beta of 3.33. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.18. BTCS Inc. has a twelve month low of $1.07 and a twelve month high of $8.49. The stock has a fifty day simple moving average of $1.70 and a 200-day simple moving average of $2.10.
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). The business had revenue of $7.09 million for 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 analysts anticipate that BTCS Inc. will post 0.02 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Wall Street Zen cut BTCS from a "hold" rating to a "strong sell" rating in a research note on Saturday, March 28th. HC Wainwright decreased their price objective on BTCS from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of BTCS in a research note 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $5.00.
Get Our Latest Stock Report on BTCS
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in BTCS by 1,286.2% during the fourth quarter. State Street Corp now owns 2,529,760 shares of the company's stock worth $6,679,000 after buying an additional 2,347,260 shares during the period. Vanguard Group Inc. increased its position in BTCS by 354.0% during the third quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company's stock worth $9,701,000 after buying an additional 1,565,996 shares during the period. Geode Capital Management LLC increased its position in BTCS by 16.5% during the fourth quarter. Geode Capital Management LLC now owns 1,156,661 shares of the company's stock worth $3,054,000 after buying an additional 164,113 shares during the period. Renaissance Technologies LLC increased its position in BTCS by 192.4% during the first quarter. Renaissance Technologies LLC now owns 1,057,100 shares of the company's stock worth $1,469,000 after buying an additional 695,555 shares during the period. Finally, Vident Advisory LLC increased its position in 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 buying an additional 58,113 shares during the period. Institutional investors and hedge funds own 3.48% of the company's stock.
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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