BTCS (NASDAQ:BTCS) Insider Benjamin Henry Hunter Sells 10,000 Shares

BTCS Inc. (NASDAQ:BTCS) insider Benjamin Henry Hunter sold 10,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 1,278,018 shares of the company’s stock, valued at $1,546,401.78. This represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

BTCS Stock Performance

NASDAQ:BTCS opened at $1.13 on Friday. The company has a market capitalization of $56.25 million, a PE ratio of -0.46 and a beta of 3.33. The company has a 50 day simple moving average of $1.70 and a two-hundred day simple moving average of $2.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.90 and a current ratio of 2.90. BTCS Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $8.49.

BTCS (NASDAQ:BTCS) last released its 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 firm had revenue of $7.09 million for the quarter, compared to analyst estimates of $4.50 million. BTCS had a negative net margin of 503.06% and a negative return on equity of 14.31%. Research analysts anticipate that BTCS Inc. will post 0.02 earnings per share for the current year.

Institutional Trading of BTCS

Several hedge funds have recently bought and sold shares of BTCS. State Street Corp grew its position in BTCS by 1,286.2% in the 4th quarter. State Street Corp now owns 2,529,760 shares of the company’s stock valued at $6,679,000 after purchasing an additional 2,347,260 shares during the period. Vanguard Group Inc. grew its position in BTCS by 354.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock valued at $9,701,000 after purchasing an additional 1,565,996 shares during the period. Renaissance Technologies LLC grew its position in BTCS by 192.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,057,100 shares of the company’s stock valued at $1,469,000 after purchasing an additional 695,555 shares during the period. Geode Capital Management LLC grew its position in BTCS by 16.5% in the 4th quarter. Geode Capital Management LLC now owns 1,156,661 shares of the company’s stock valued at $3,054,000 after purchasing an additional 164,113 shares during the period. Finally, 683 Capital Management LLC acquired a new stake in BTCS in the 4th quarter valued at $428,000. Institutional investors and hedge funds own 3.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BTCS. HC Wainwright decreased their target price on shares of BTCS from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Wall Street Zen cut BTCS from a “hold” rating to a “strong sell” rating in a report on Saturday, March 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of BTCS in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.00.

BTCS Company Profile

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.