BTCS's (BTCS) "Sell (D)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell" rating for BTCS, amidst mixed opinions from analysts; HC Wainwright recently upgraded the stock to "buy" with a price target of $7.00.
• BTCS reported a quarterly earnings miss with an EPS of ($0.10) against an expected ($0.07) and generated revenue of $2.77 million, surpassing the $1.70 million consensus estimate.
• Insider trading activity was noted as CEO Charles W. Allen sold 50,000 shares at an average price of $4.77, reducing his ownership stake by 1.08%.

BTCS (NASDAQ:BTCS - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Other equities analysts also recently issued reports about the stock. HC Wainwright upped their price target on shares of BTCS from $5.00 to $7.00 and gave the company a "buy" rating in a report on Friday, August 15th. Zacks Research downgraded shares of BTCS from a "hold" rating to a "strong sell" rating in a report on Monday, October 13th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $7.00.

BTCS Price Performance

Shares of NASDAQ BTCS traded up $0.13 during mid-day trading on Friday, hitting $4.07. 1,419,302 shares of the company's stock traded hands, compared to its average volume of 3,543,457. The company has a market capitalization of $195.56 million, a P/E ratio of -3.57 and a beta of 1.28. BTCS has a 1 year low of $1.17 and a 1 year high of $8.49. The company's 50-day moving average is $4.61 and its two-hundred day moving average is $3.56. 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 results on Wednesday, August 13th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $2.77 million for 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 analysts anticipate that BTCS will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other BTCS news, CEO Charles W. Allen sold 50,000 shares of the company's 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 transaction, the chief executive officer directly owned 4,579,506 shares in the company, valued at $21,844,243.62. This represents a 1.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 42.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BTCS

Several hedge funds have recently modified their holdings of BTCS. SBI Securities Co. Ltd. lifted its position in shares of 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 purchasing an additional 7,064 shares during the period. DLK Investment Management LLC lifted its position in shares of BTCS by 13.3% in the 2nd quarter. DLK Investment Management LLC now owns 32,392 shares of the company's stock worth $71,000 after purchasing an additional 3,792 shares during the period. Geode Capital Management LLC lifted its position in shares of BTCS by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 117,717 shares of the company's stock worth $259,000 after purchasing an additional 3,172 shares during the period. Invesco Ltd. purchased a new stake in shares of BTCS in the 2nd quarter worth approximately $293,000. Finally, Tidal Investments LLC purchased a new stake in shares of BTCS in the 2nd quarter worth approximately $54,000. 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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