BTCS Inc. (NASDAQ:BTCS) CEO Charles W. Allen Sells 85,000 Shares

BTCS Inc. (NASDAQ:BTCS) CEO Charles W. Allen sold 85,000 shares of BTCS stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $1.37, for a total value of $116,450.00. Following the sale, the chief executive officer now directly owns 4,293,622 shares in the company, valued at $5,882,262.14. The trade was a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

BTCS Price Performance

BTCS stock opened at $1.50 on Thursday. The company has a 50 day moving average price of $2.09 and a 200 day moving average price of $2.33. BTCS Inc. has a fifty-two week low of $0.95 and a fifty-two week high of $5.41. The stock has a market capitalization of $24.01 million, a PE ratio of 3.66 and a beta of 2.90.

BTCS (NASDAQ:BTCS) last announced its earnings results on Thursday, March 20th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.29). BTCS had a negative return on equity of 15.42% and a net margin of 366.80%. The company had revenue of $2.20 million during the quarter, compared to analyst estimates of $2.20 million. As a group, equities analysts expect that BTCS Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of BTCS during the 3rd quarter worth approximately $27,000. SBI Securities Co. Ltd. acquired a new stake in BTCS in the fourth quarter valued at approximately $44,000. Geode Capital Management LLC lifted its holdings in shares of BTCS by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 98,019 shares of the company’s stock worth $242,000 after purchasing an additional 9,404 shares during the period. Invesco Ltd. acquired a new position in shares of BTCS during the fourth quarter worth $294,000. Finally, Renaissance Technologies LLC raised its stake in BTCS by 242.3% during the fourth quarter. Renaissance Technologies LLC now owns 127,391 shares of the company’s stock worth $315,000 after buying an additional 90,171 shares during the last quarter. 3.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright boosted their target price on BTCS from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th.

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.