Insider Buying: BTCS (NASDAQ:BTCS) CEO Acquires 19,499 Shares of Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen purchased 19,499 shares of BTCS stock in a transaction on Tuesday, November 18th. The stock was bought at an average price of $2.90 per share, with a total value of $56,547.10. Following the transaction, the chief executive officer owned 4,599,005 shares of the company’s stock, valued at approximately $13,337,114.50. This represents a 0.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

BTCS Price Performance

BTCS stock traded down $0.21 during trading on Wednesday, reaching $2.79. The company’s stock had a trading volume of 2,065,891 shares, compared to its average volume of 3,395,512. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average is $4.20 and its 200-day moving average is $3.80. The company has a market capitalization of $130.68 million, a P/E ratio of 3.88 and a beta of 1.19. BTCS Inc. has a 1 year low of $1.25 and a 1 year high of $8.49.

BTCS (NASDAQ:BTCS) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.13). BTCS had a net margin of 464.44% and a negative return on equity of 25.01%. The company had revenue of $4.94 million for the quarter, compared to the consensus estimate of $3.00 million. On average, research analysts expect that BTCS Inc. will post -0.08 earnings per share for the current fiscal year.

BTCS Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were given a dividend of $0.05 per share. The ex-dividend date was Friday, September 26th.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BTCS. HC Wainwright raised their price target on BTCS from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of BTCS in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of BTCS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 10,324 shares during the period. SG Americas Securities LLC purchased a new stake in BTCS during the 3rd quarter worth approximately $53,000. Tidal Investments LLC acquired a new stake in shares of BTCS in the second quarter valued at $54,000. Nomura Holdings Inc. purchased a new position in shares of BTCS in the 3rd quarter valued at about $58,000. Finally, ACT Wealth Management LLC purchased a new position in BTCS in the third quarter worth approximately $58,000. 3.48% of the stock is currently owned by institutional investors and hedge funds.

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.