BTCS Inc. (NASDAQ:BTCS) CEO Charles W. Allen Sells 50,000 Shares

Key Points

• BTCS Inc. CEO Charles W. Allen sold 50,000 shares at an average price of $4.13, decreasing his ownership in the company to 4,629,506 shares.
• The company reported a loss of $0.10 EPS for the last quarter, missing the consensus estimate by $0.03, although revenue exceeded expectations at $2.77 million.
• Analysts have raised BTCS's rating from "sell" to "hold," with HC Wainwright increasing their price target from $5.00 to $7.00 and giving it a "buy" rating.

BTCS Inc. (NASDAQ:BTCS - Get Free Report) CEO Charles W. Allen sold 50,000 shares of BTCS stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $4.13, for a total transaction of $206,500.00. Following the completion of the transaction, the chief executive officer directly owned 4,629,506 shares in the company, valued at $19,119,859.78. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

BTCS Price Performance

BTCS traded up $0.46 during trading on Monday, hitting $4.87. The stock had a trading volume of 5,188,851 shares, compared to its average volume of 7,210,618. The company has a debt-to-equity ratio of 0.17, a quick ratio of 8.19 and a current ratio of 8.19. The company's 50-day moving average price is $3.91 and its 200 day moving average price is $2.75. BTCS Inc. has a twelve month low of $0.95 and a twelve month high of $8.49.

BTCS (NASDAQ:BTCS - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $2.77 million during the quarter, compared to analysts' expectations of $1.70 million. BTCS had a negative return on equity of 51.90% and a negative net margin of 268.37%. As a group, equities research analysts forecast that BTCS Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BTCS shares. Wall Street Zen raised BTCS from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. HC Wainwright increased their price target on BTCS from $5.00 to $7.00 and gave the company a "buy" rating in a research report on Friday.

Hedge Funds Weigh In On BTCS

Hedge funds have recently made changes to their positions in the business. Invesco Ltd. purchased a new stake in shares of BTCS during the 2nd quarter valued at about $293,000. Renaissance Technologies LLC grew its position in BTCS by 242.3% in 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 in the last quarter. Tidal Investments LLC purchased a new stake in shares of BTCS during the second quarter valued at approximately $54,000. Geode Capital Management LLC lifted its position 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 in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of BTCS by 39.7% in the first quarter. SBI Securities Co. Ltd. now owns 24,846 shares of the company's stock valued at $37,000 after purchasing an additional 7,064 shares during the period. Hedge funds and other institutional investors own 3.48% of the company's stock.

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.

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