BTCS Inc. (NASDAQ:BTCS) Sees Large Increase in Short Interest

BTCS Inc. (NASDAQ:BTCS) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,740,000 shares, an increase of 2,540.4% from the October 31st total of 65,900 shares. Currently, 18.0% of the shares of the stock are sold short. Based on an average daily volume of 2,830,000 shares, the days-to-cover ratio is currently 0.6 days.

Insiders Place Their Bets

In other news, Director Melanie Pump sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $3.49, for a total value of $76,780.00. Following the completion of the sale, the director now directly owns 38,735 shares in the company, valued at $135,185.15. This represents a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 44.30% of the stock is currently owned by corporate insiders.

Institutional Trading of BTCS

A hedge fund recently bought a new stake in BTCS stock. Virtu Financial LLC purchased a new stake in BTCS Inc. (NASDAQ:BTCS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 23,458 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned about 0.14% of BTCS as of its most recent SEC filing. Institutional investors own 3.48% of the company’s stock.

BTCS Trading Up 11.5 %

BTCS stock opened at $3.77 on Thursday. The company has a 50-day moving average price of $1.85 and a 200 day moving average price of $1.56. BTCS has a 12-month low of $0.95 and a 12-month high of $5.41. The stock has a market cap of $64.18 million, a P/E ratio of 9.20 and a beta of 1.55.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of BTCS in a report on Thursday, August 22nd.

About BTCS

BTCS Inc operates in blockchain technology sector the United States. Its blockchain-infrastructure secures and operates validator nodes on disruptive blockchain networks, as well as validates transactions for crypto holding delegations on dPoS blockchains. The company offers StakeSeeker, a cryptocurrency dashboard and staking-as-a-service platform that allows crypto asset holders to earn rewards by participating in network consensus mechanisms; and Builder+, a Ethereum block builder offered to maximize validator earnings by utilizing algorithms to construct optimized blocks for on-chain validation.