BTCS (NASDAQ:BTCS) Posts Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• BTCS reported quarterly earnings of ($0.10) EPS, missing the consensus estimate by $0.03 EPS, despite achieving revenue of $2.77 million, exceeding analyst expectations.
• The stock is currently trading at $4.40 following a trading volume of over 4 million shares, with a market capitalization of $210.30 million.
• In a recent analyst report, HC Wainwright upgraded BTCS's price target from $5.00 to $7.00 and assigned a "buy" rating, while Wall Street Zen changed its rating from "sell" to "hold".

BTCS (NASDAQ:BTCS - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03), Zacks reports. The company had revenue of $2.77 million during the quarter, compared to analyst estimates of $1.70 million. BTCS had a negative net margin of 268.37% and a negative return on equity of 54.26%.

BTCS Price Performance

NASDAQ BTCS traded down $0.11 on Friday, reaching $4.40. The stock had a trading volume of 4,101,408 shares, compared to its average volume of 3,776,639. The firm has a fifty day moving average of $3.82 and a two-hundred day moving average of $2.73. BTCS has a 1-year low of $0.95 and a 1-year high of $8.49. The company has a market cap of $210.30 million, a P/E ratio of -3.86 and a beta of 1.17.

Analyst Upgrades and Downgrades

BTCS has been the topic of several recent analyst reports. HC Wainwright boosted their price target on BTCS from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen upgraded BTCS from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th.

Insider Activity

In other BTCS news, COO Michal Handerhan sold 112,779 shares of the firm'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 transaction, the chief operating officer owned 1,641,581 shares in the company, valued at $9,849,486. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 42.80% of the company's stock.

Institutional Trading of BTCS

A hedge fund recently bought a new stake in BTCS stock. Invesco Ltd. acquired a new position in shares of BTCS Inc. (NASDAQ:BTCS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 133,002 shares of the company's stock, valued at approximately $293,000. Invesco Ltd. owned 0.28% of BTCS as of its most recent SEC filing. 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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