HC Wainwright Lowers BTCS (NASDAQ:BTCS) Price Target to $5.00

Key Points

• HC Wainwright trimmed its price target on BTCS from $7 to $5 but kept a "buy" rating, a level that implies roughly a 287.6% upside from the stock's current price.
• Analyst views are mixed: Wall Street Zen recently downgraded BTCS to a "strong sell," Weiss Ratings kept a "hold (c)," and the MarketBeat consensus rating is "Hold" with a consensus target of $5.00.
• BTCS trades near $1.29 with a market cap of about $64.2M; it reported a quarterly loss (EPS -$0.05) that missed estimates despite revenue of $7.09M, and the company remains unprofitable with negative ROE and net margins.

BTCS (NASDAQ:BTCS - Get Free Report) had its price target dropped by stock analysts at HC Wainwright from $7.00 to $5.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 287.60% from the company's current price.

A number of other brokerages also recently weighed in on BTCS. Wall Street Zen downgraded BTCS from a "hold" rating to a "strong sell" rating in a report on Saturday. Weiss Ratings restated a "hold (c)" rating on shares of BTCS in a research note on Friday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.00.

BTCS Stock Performance

Shares of BTCS stock opened at $1.29 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.38 and a current ratio of 3.38. BTCS has a 1 year low of $1.25 and a 1 year high of $8.49. The firm's 50-day simple moving average is $1.85 and its 200-day simple moving average is $3.02. The firm has a market cap of $64.18 million, a PE ratio of -0.68 and a beta of 3.24.

BTCS (NASDAQ:BTCS - Get Free Report) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.06). BTCS had a negative return on equity of 14.97% and a negative net margin of 202.29%.The firm had revenue of $7.09 million during the quarter, compared to analyst estimates of $4.50 million. Equities analysts forecast that BTCS will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BTCS. Boothbay Fund Management LLC acquired a new stake in shares of BTCS in the fourth quarter valued at approximately $42,000. Intesa Sanpaolo S.p.A. bought a new position in BTCS in the 4th quarter worth approximately $43,000. Squarepoint Ops LLC acquired a new stake in BTCS in the 4th quarter valued at approximately $51,000. ACT Wealth Management LLC increased its position 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 acquiring an additional 8,000 shares during the period. Finally, SG Americas Securities LLC bought a new stake in BTCS during the 3rd quarter valued at $53,000. Institutional investors own 3.48% of the company's stock.

About BTCS

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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