BTCS (NASDAQ:BTCS) CEO Sells $133,350.00 in Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen sold 105,000 shares of BTCS stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $1.27, for a total value of $133,350.00. Following the completion of the transaction, the chief executive officer owned 7,414,033 shares in the company, valued at $9,415,821.91. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BTCS Stock Up 1.3%

BTCS traded up $0.02 on Thursday, hitting $1.18. The company had a trading volume of 1,203,831 shares, compared to its average volume of 830,795. BTCS Inc. has a 12-month low of $1.07 and a 12-month high of $8.49. The stock has a market capitalization of $58.49 million, a price-to-earnings ratio of -0.48 and a beta of 3.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.90 and a current ratio of 2.90. The stock has a fifty day moving average price of $1.71 and a 200-day moving average price of $2.15.

BTCS (NASDAQ:BTCS) last issued its quarterly 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). BTCS had a negative return on equity of 14.31% and a negative net margin of 503.06%.The business had revenue of $7.09 million for the quarter, compared to analysts’ expectations of $4.50 million. Analysts predict that BTCS Inc. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BTCS. Geode Capital Management LLC raised its stake in shares of BTCS by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 117,717 shares of the company’s stock worth $259,000 after buying an additional 3,172 shares during the period. Invesco Ltd. purchased a new stake in BTCS in the 2nd quarter valued at $293,000. Tidal Investments LLC purchased a new stake in BTCS in the 2nd quarter valued at $54,000. Vanguard Group Inc. grew its holdings 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 buying an additional 1,565,996 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of BTCS in the 3rd quarter valued at $125,000. 3.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

About BTCS

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.