BTCS (NASDAQ:BTCS) Shares Down 0.7% - Here's Why

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 traded down 0.7% during trading on Wednesday . The company traded as low as $4.15 and last traded at $4.19. 2,173,271 shares changed hands during trading, a decline of 33% from the average session volume of 3,265,917 shares. The stock had previously closed at $4.22.

Analyst Ratings Changes

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

BTCS Trading Up 2.5%

The company has a debt-to-equity ratio of 0.17, a current ratio of 8.19 and a quick ratio of 8.19. The firm has a fifty day simple moving average of $4.68 and a two-hundred day simple moving average of $3.00. The firm has a market capitalization of $232.08 million, a P/E ratio of -4.24 and a beta of 1.38.

BTCS (NASDAQ:BTCS - Get Free Report) last issued its earnings results 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 firm had revenue of $2.77 million during the quarter, compared to the consensus estimate of $1.70 million. BTCS had a negative net margin of 268.37% and a negative return on equity of 51.90%. On average, equities research analysts anticipate that BTCS Inc. will post -0.08 earnings per share for the current fiscal year.

BTCS Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, October 17th. Shareholders 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

In other news, CEO Charles W. Allen sold 50,000 shares of BTCS stock in a transaction dated 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 in the company, valued at $21,844,243.62. This trade represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michal Handerhan sold 112,779 shares of the company'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 sale, the chief operating officer owned 1,641,581 shares in the company, valued at $9,849,486. The trade was a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 300,000 shares of company stock valued at $1,648,489 in the last quarter. Corporate insiders own 42.80% of the company's stock.

Hedge Funds Weigh In On BTCS

A number of large investors have recently made changes to their positions in BTCS. SBI Securities Co. Ltd. grew its position 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 in the last quarter. Tidal Investments LLC bought a new position in BTCS in the 2nd quarter worth about $54,000. 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 buying an additional 3,792 shares in the last quarter. Geode Capital Management LLC grew its holdings in BTCS by 2.8% during the 2nd 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. bought a new stake in shares of BTCS during the second quarter valued at about $293,000. 3.48% of the stock is owned by institutional investors.

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.