HC Wainwright Forecasts Strong Price Appreciation for BTCS (NASDAQ:BTCS) Stock

Key Points

• BTCS has seen its price target raised from $5.00 to $7.00 by HC Wainwright, indicating a potential upside of 55.90% from its current price.
• The stock recently opened at $4.49 and has experienced a 3.2% increase, with its market cap now at $214.85 million.
• In a separate report, Wall Street Zen upgraded BTCS from a "sell" rating to a "hold" rating, reflecting a more favorable view on the stock's potential.

BTCS (NASDAQ:BTCS - Get Free Report) had its price target hoisted by equities researchers at HC Wainwright from $5.00 to $7.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target would indicate a potential upside of 58.91% from the stock's previous close. HC Wainwright also issued estimates for BTCS's FY2026 earnings at ($0.05) EPS.

Separately, Wall Street Zen upgraded shares of BTCS from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, BTCS presently has a consensus rating of "Buy" and a consensus price target of $7.00.

BTCS Stock Up 4.1%

Shares of BTCS traded up $0.1750 during mid-day trading on Friday, hitting $4.4050. 1,912,630 shares of the company's stock were exchanged, compared to its average volume of 3,788,307. The company has a market cap of $211.66 million, a price-to-earnings ratio of -3.86 and a beta of 1.17. BTCS has a fifty-two week low of $0.95 and a fifty-two week high of $8.49. 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 stock's 50-day moving average is $3.94 and its 200-day moving average is $2.76.

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

Insider Activity at BTCS

In other BTCS news, COO Michal Handerhan sold 112,779 shares of the business'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 sale, the chief operating officer directly owned 1,641,581 shares in the company, valued at approximately $9,849,486. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles W. Allen sold 50,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were 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 of the company's stock, valued at approximately $21,844,243.62. This represents a 1.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 300,000 shares of company stock worth $1,648,489 in the last three months. Corporate insiders own 42.80% of the company's stock.

Hedge Funds Weigh In On BTCS

Several institutional investors and hedge funds have recently modified their holdings of BTCS. Geode Capital Management LLC grew its position 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 purchasing an additional 3,172 shares during the period. DLK Investment Management LLC grew its holdings in BTCS by 13.3% during the 2nd quarter. DLK Investment Management LLC now owns 32,392 shares of the company's stock valued at $71,000 after purchasing an additional 3,792 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in 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 buying an additional 7,064 shares in the last quarter. Tidal Investments LLC acquired a new position in BTCS in the 2nd quarter worth $54,000. Finally, Renaissance Technologies LLC boosted its position in BTCS by 242.3% in the 4th quarter. Renaissance Technologies LLC now owns 127,391 shares of the company's stock valued at $315,000 after buying an additional 90,171 shares during the last quarter. Hedge funds and other institutional investors own 3.48% of the company's stock.

BTCS Company Profile

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.