BTCS Inc. (NASDAQ:BTCS) Short Interest Down 30.0% in September

Key Points

• Short interest for BTCS Inc. decreased by 30.0% in September, dropping from 4,330,000 shares to 3,030,000 shares, with 10.2% of the company's shares currently short sold.
• BTCS reported a loss of $0.10 EPS for the last quarter, which was below analyst expectations, although revenue exceeded estimates at $2.77 million.
• The company has announced a $0.05 dividend to be paid on October 17th, with an ex-dividend date of September 26th.

BTCS Inc. (NASDAQ:BTCS - Get Free Report) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totaling 3,030,000 shares, a decline of 30.0% from the August 31st total of 4,330,000 shares. Currently, 10.2% of the shares of the stock are short sold. Based on an average trading volume of 8,840,000 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 8,840,000 shares, the short-interest ratio is presently 0.3 days. Currently, 10.2% of the shares of the stock are short sold.

BTCS Trading Down 3.4%

NASDAQ:BTCS opened at $5.11 on Monday. BTCS has a 12 month low of $1.13 and a 12 month high of $8.49. The company has a current ratio of 8.19, a quick ratio of 8.19 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $245.54 million, a price-to-earnings ratio of -4.48 and a beta of 1.28. The firm has a fifty day simple moving average of $4.54 and a two-hundred day simple moving average of $3.27.

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

BTCS Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, September 26th.

Insiders Place Their Bets

In other news, COO Michal Handerhan sold 112,779 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $6.00, for a total transaction of $676,674.00. Following the completion of the sale, the chief operating officer directly owned 1,641,581 shares in the company, valued at approximately $9,849,486. This represents a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles W. Allen sold 50,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $4.77, for a total value of $238,500.00. Following the completion of the transaction, the chief executive officer owned 4,579,506 shares in the company, valued at $21,844,243.62. The trade was a 1.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 300,000 shares of company stock valued at $1,648,489. Corporate insiders own 42.80% of the company's stock.

Institutional Investors Weigh In On BTCS

Several hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its holdings in shares of BTCS by 39.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 24,846 shares of the company's stock worth $37,000 after purchasing an additional 7,064 shares in the last quarter. Tidal Investments LLC acquired a new position in BTCS during the second quarter worth $54,000. DLK Investment Management LLC lifted its stake in shares of BTCS by 13.3% in the second quarter. DLK Investment Management LLC now owns 32,392 shares of the company's stock valued at $71,000 after buying an additional 3,792 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of BTCS by 2.8% in the second quarter. Geode Capital Management LLC now owns 117,717 shares of the company's stock valued at $259,000 after buying an additional 3,172 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in shares of BTCS during the second quarter valued at about $293,000. Institutional investors own 3.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BTCS. HC Wainwright lifted their price objective on shares of BTCS from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Wall Street Zen upgraded BTCS from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of BTCS in a research report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $7.00.

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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