BTCS (NASDAQ:BTCS) Stock Price Down 1.9% – Time to Sell?

BTCS Inc. (NASDAQ:BTCS)’s share price fell 1.9% during trading on Friday . The company traded as low as $0.9807 and last traded at $1.03. Approximately 417,683 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 606,140 shares. The stock had previously closed at $1.05.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of BTCS in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.00.

BTCS Price Performance

The stock’s 50-day moving average price is $1.17 and its 200-day moving average price is $1.65. The company has a market capitalization of $51.27 million, a price-to-earnings ratio of -0.42 and a beta of 3.38. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling at BTCS

In related news, CEO Charles W. Allen sold 168,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $1.22, for a total value of $204,960.00. Following the completion of the transaction, the chief executive officer owned 6,844,033 shares in the company, valued at $8,349,720.26. The trade was a 2.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 685,000 shares of company stock valued at $812,110 over the last three months. Company insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. acquired a new stake in shares of BTCS in the 4th quarter valued at $173,000. Barclays PLC raised its position in shares of BTCS by 284.9% during the fourth quarter. Barclays PLC now owns 58,062 shares of the company’s stock worth $153,000 after acquiring an additional 42,976 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of BTCS during the fourth quarter valued at $111,000. Oxford Asset Management LLP bought a new position in BTCS in the fourth quarter valued at about $103,000. Finally, Virtu Financial LLC bought a new position in BTCS in the fourth quarter valued at about $92,000. 3.48% of the stock is currently owned by institutional investors.

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.