BTCS (NASDAQ:BTCS) Trading Down 0.7% - Time to Sell?

Key Points

• BTCS Inc.'s share price fell 0.7% to $4.19, with trading volume down by 33% from the average daily volume.
• Analysts have given BTCS a buy rating with a raised price target of $7.00, while the company reported a quarterly loss, with an earnings miss of ($0.10) EPS against a consensus forecast of ($0.07).
• The company will pay a dividend of $0.05 per share on October 17th, with the ex-dividend date on September 26th.

BTCS Inc. (NASDAQ:BTCS - Get Free Report)'s share price dropped 0.7% on Wednesday . The company traded as low as $4.15 and last traded at $4.19. Approximately 2,173,271 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 3,265,917 shares. The stock had previously closed at $4.22.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BTCS shares. HC Wainwright raised their target price on shares of BTCS from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Wall Street Zen raised shares of BTCS from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, BTCS has an average rating of "Buy" and an average price target of $7.00.

BTCS Trading Down 0.7%

The company has a market capitalization of $201.33 million, a PE ratio of -3.68 and a beta of 1.38. The company's fifty day moving average is $4.58 and its 200-day moving average is $2.92. The company has a debt-to-equity ratio of 0.17, a current ratio of 8.19 and a quick ratio of 8.19.

BTCS (NASDAQ:BTCS - Get Free Report) last issued 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). The business had revenue of $2.77 million for the quarter, compared to analysts' expectations of $1.70 million. BTCS had a negative net margin of 268.37% and a negative return on equity of 51.90%. On average, analysts anticipate that BTCS Inc. will post -0.08 EPS for the current fiscal year.

BTCS Dividend Announcement

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

Insider Activity at BTCS

In related news, CEO Charles W. Allen sold 50,000 shares of BTCS stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $4.77, for a total transaction of $238,500.00. Following the transaction, the chief executive officer directly owned 4,579,506 shares of the company's stock, valued at $21,844,243.62. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Michal Handerhan sold 112,779 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were 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 owned 1,641,581 shares of the company's stock, valued at approximately $9,849,486. This trade represents a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 300,000 shares of company stock worth $1,648,489. 42.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BTCS

Several institutional investors have recently bought and sold shares of BTCS. SBI Securities Co. Ltd. boosted its stake in 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 acquiring an additional 7,064 shares in the last quarter. DLK Investment Management LLC lifted its stake in shares of BTCS by 13.3% during the second quarter. DLK Investment Management LLC now owns 32,392 shares of the company's stock worth $71,000 after buying an additional 3,792 shares during the period. Geode Capital Management LLC lifted its stake in shares of BTCS by 2.8% during the second quarter. Geode Capital Management LLC now owns 117,717 shares of the company's stock worth $259,000 after buying an additional 3,172 shares during the period. Invesco Ltd. acquired a new stake in shares of BTCS during the second quarter worth $293,000. Finally, Tidal Investments LLC acquired a new stake in shares of BTCS during the second quarter worth $54,000. 3.48% of the stock is currently owned by institutional investors and hedge funds.

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.

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