Short Interest in BTCS Inc. (NASDAQ:BTCS) Decreases By 18.0%

BTCS Inc. (NASDAQ:BTCS) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 467,700 shares, a decrease of 18.0% from the February 28th total of 570,300 shares. Based on an average daily volume of 518,600 shares, the short-interest ratio is presently 0.9 days. Approximately 3.8% of the shares of the stock are sold short.

BTCS Trading Down 3.8 %

Shares of BTCS opened at $1.50 on Tuesday. BTCS has a 12-month low of $0.95 and a 12-month high of $5.41. The stock has a market cap of $30.13 million, a P/E ratio of 3.66 and a beta of 3.05. The company has a 50-day moving average of $2.40 and a two-hundred day moving average of $2.33.

BTCS (NASDAQ:BTCS) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $2.20 million. As a group, analysts forecast that BTCS will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On BTCS

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of BTCS by 242.3% during the fourth quarter. Renaissance Technologies LLC now owns 127,391 shares of the company’s stock valued at $315,000 after acquiring an additional 90,171 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of BTCS during the 4th quarter worth about $294,000. Geode Capital Management LLC grew 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 buying an additional 9,404 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BTCS in the fourth quarter valued at approximately $44,000. Finally, Virtu Financial LLC acquired a new position in shares of BTCS in the third quarter valued at approximately $27,000. 3.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

BTCS Company Profile

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.