Insider Selling: BTCS Inc. (NASDAQ:BTCS) COO Sells 87,221 Shares of Stock

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

BTCS Stock Performance

Shares of NASDAQ:BTCS traded up $0.24 during midday trading on Friday, reaching $4.53. 13,113,377 shares of the company's stock were exchanged, compared to its average volume of 1,997,610. The company's 50 day simple moving average is $2.62 and its two-hundred day simple moving average is $2.37. The firm has a market capitalization of $105.64 million, a PE 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 announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter. BTCS had a negative net margin of 579.87% and a negative return on equity of 41.76%. On average, research analysts anticipate that BTCS Inc. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On BTCS

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in BTCS by 242.3% during the 4th 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 during the last quarter. Invesco Ltd. bought a new position in BTCS during the 4th quarter valued at about $294,000. Geode Capital Management LLC raised its stake in shares of 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 last quarter. DLK Investment Management LLC raised its stake in shares of 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 last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of 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 last quarter. 3.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.