BTCS Inc. (NASDAQ:BTCS) COO Sells $526,814.84 in Stock

BTCS Inc. (NASDAQ:BTCS - Get Free Report) COO Michal Handerhan sold 87,221 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $6.04, for a total value of $526,814.84. Following the completion of the sale, the chief operating officer owned 1,516,881 shares of the company's stock, valued at $9,161,961.24. This trade represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BTCS Stock Performance

Shares of BTCS stock traded up $0.24 during trading hours on Friday, reaching $4.53. The company had a trading volume of 13,113,377 shares, compared to its average volume of 1,989,763. The stock has a fifty day moving average of $2.62 and a 200-day moving average of $2.37. The company has a market capitalization of $105.64 million, a price-to-earnings ratio of -2.65 and a beta of 1.15. BTCS Inc. has a 12-month low of $0.95 and a 12-month high of $6.19.

BTCS (NASDAQ:BTCS - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.14) earnings per share for the quarter. BTCS had a negative return on equity of 41.76% and a negative net margin of 579.87%. On average, analysts forecast that BTCS Inc. will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded BTCS from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. DLK Investment Management LLC grew its position in BTCS by 13.3% in the second quarter. DLK Investment Management LLC now owns 32,392 shares of the company's stock worth $71,000 after acquiring an additional 3,792 shares during the period. SBI Securities Co. Ltd. grew its position in BTCS by 39.7% in the first quarter. SBI Securities Co. Ltd. now owns 24,846 shares of the company's stock worth $37,000 after acquiring an additional 7,064 shares during the period. Renaissance Technologies LLC grew its position in BTCS by 242.3% in the fourth quarter. Renaissance Technologies LLC now owns 127,391 shares of the company's stock worth $315,000 after acquiring an additional 90,171 shares during the period. Invesco Ltd. purchased a new position in BTCS in the fourth quarter worth approximately $294,000. Finally, Geode Capital Management LLC grew its position in BTCS by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 98,019 shares of the company's stock worth $242,000 after acquiring an additional 9,404 shares during the period. 3.48% of the stock is currently owned by hedge funds and other institutional investors.

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.