Michal Handerhan Sells 87,221 Shares of BTCS Inc. (NASDAQ:BTCS) 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 transaction, the chief operating officer directly owned 1,516,881 shares in the company, 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 SEC, which can be accessed through this link.

BTCS Stock Performance

Shares of NASDAQ BTCS traded up $0.12 during midday trading on Thursday, hitting $4.29. 12,341,768 shares of the stock traded hands, compared to its average volume of 1,929,799. The firm has a 50-day moving average of $2.52 and a two-hundred day moving average of $2.35. The firm has a market capitalization of $90.50 million, a P/E ratio of -2.51 and a beta of 1.15. BTCS Inc. has a one year low of $0.95 and a one year high of $6.19.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On BTCS

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in BTCS in the 4th quarter worth $44,000. Invesco Ltd. purchased a new stake in BTCS in the 4th quarter worth $294,000. Geode Capital Management LLC grew its position in shares of BTCS by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 98,019 shares of the company's stock valued at $242,000 after purchasing an additional 9,404 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of BTCS by 242.3% during the fourth quarter. Renaissance Technologies LLC now owns 127,391 shares of the company's stock valued at $315,000 after purchasing an additional 90,171 shares in the last quarter. Finally, DLK Investment Management LLC grew its position in shares of BTCS by 13.3% during the second quarter. DLK Investment Management LLC now owns 32,392 shares of the company's stock valued at $71,000 after purchasing an additional 3,792 shares in the last quarter. 3.48% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.