Shares of BTCS Inc. (NASDAQ:BTCS - Get Free Report) dropped 1.9% on Thursday . The stock traded as low as $1.05 and last traded at $1.06. 379,222 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 1,032,977 shares. The stock had previously closed at $1.08.
Wall Street Analysts Forecast Growth
BTCS has been the topic of a number of recent research reports. Wall Street Zen cut shares of BTCS from a "hold" rating to a "strong sell" rating in a report on Saturday, March 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of BTCS in a research note on Wednesday, June 24th. Finally, HC Wainwright lowered their price objective on shares of BTCS from $7.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $5.00.
Read Our Latest Report on BTCS
BTCS Trading Down 1.9%
The company has a 50 day simple moving average of $1.47 and a 200 day simple moving average of $1.85. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $52.77 million, a PE ratio of -0.43 and a beta of 3.38.
Insider Activity
In other news, CEO Charles W. Allen sold 168,000 shares of BTCS stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $1.22, for a total value of $204,960.00. Following the sale, the chief executive officer owned 6,844,033 shares of the company's stock, valued at $8,349,720.26. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 685,000 shares of company stock valued at $812,110 over the last quarter. Insiders own 16.90% of the company's stock.
Institutional Trading of BTCS
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boothbay Fund Management LLC purchased a new stake in shares of BTCS in the fourth quarter valued at about $42,000. Intesa Sanpaolo S.p.A. purchased a new position in shares of BTCS during the 4th quarter worth approximately $43,000. Squarepoint Ops LLC acquired a new position in shares of BTCS during the 4th quarter worth approximately $51,000. ACT Wealth Management LLC lifted its stake in BTCS by 66.7% in the 4th quarter. ACT Wealth Management LLC now owns 20,000 shares of the company's stock valued at $53,000 after buying an additional 8,000 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in BTCS by 1,856.8% during the 3rd quarter. Bank of America Corp DE now owns 10,880 shares of the company's stock valued at $53,000 after buying an additional 10,324 shares during the last quarter. Institutional investors and hedge funds own 3.48% of the company's stock.
BTCS Company Profile
(
Get Free Report)
BTCS, Inc NASDAQ: BTCS is a digital asset technology company focused on blockchain infrastructure and related investments. Originally founded in 2012 as Bitcoin Shop, Inc, the company pivoted in 2018 to concentrate on blockchain technology applications, digital asset management and strategic investments in early-stage ventures. BTCS holds a diversified portfolio that includes cryptocurrency mining equipment, digital wallets, and equity stakes in promising blockchain startups.
In its mining operations, BTCS acquires and manages mining hardware to secure blockchain networks and generate newly minted digital tokens.
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