BTCS Inc. (NASDAQ:BTCS) Stock Short Interest Report for October

Key Points

• BTCS short interest surged 92.4% to 3.08 million shares as of October 15, representing 7.1% of shares outstanding and a 2.8-day days-to-cover ratio.
• Shares opened at $1.04, near the company’s $0.96–$3.75 12-month range, while the company reported a quarterly loss of $0.70 per share, $2.45 million in revenue, and a negative net margin of 746.29%.
• Analyst opinions are mixed—one Buy, one Hold, and one Sell—with a consensus Hold rating and a $5.00 price target; institutional ownership remains limited at 3.48%.

BTCS Inc. (NASDAQ:BTCS - Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 3,081,344 shares, an increase of 92.4% from the September 30th total of 1,601,316 shares. Currently, 7.1% of the shares of the company are short sold. Based on an average trading volume of 1,086,466 shares, the days-to-cover ratio is currently 2.8 days.

BTCS Price Performance

Shares of NASDAQ BTCS opened at $1.04 on Friday. The stock's 50-day simple moving average is $1.34 and its two-hundred day simple moving average is $1.53. The firm has a market capitalization of $54.57 million, a P/E ratio of -0.31 and a beta of 3.29. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.20. BTCS has a twelve month low of $0.96 and a twelve month high of $3.75.

BTCS (NASDAQ:BTCS - Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($0.70) EPS for the quarter. BTCS had a negative return on equity of 14.40% and a negative net margin of 746.29%. The company had revenue of $2.45 million during the quarter.

Institutional Trading of BTCS

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in shares of BTCS by 192.4% during the first quarter. Renaissance Technologies LLC now owns 1,057,100 shares of the company's stock valued at $1,469,000 after buying an additional 695,555 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of BTCS in the second quarter worth approximately $80,000. Finally, Engineers Gate Manager LP bought a new stake in BTCS in the 2nd quarter worth $30,000. 3.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded BTCS from a "hold (c)" rating to a "sell (d-)" rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.00.

BTCS Company Profile

BTCS Inc NASDAQ: BTCS is a blockchain technology company focused primarily on the Ethereum ecosystem. The company seeks to build and operate blockchain infrastructure that supports network security, transaction validation and participation in decentralized networks.

BTCS's activities include operating Ethereum validator nodes and pursuing blockchain-related infrastructure and staking opportunities. Through these operations, the company participates in the proof-of-stake process that helps secure and maintain supported blockchain networks.

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