Weiss Ratings Reiterates Sell (D) Rating for BTCS (NASDAQ:BTCS)

Key Points

• Weiss Ratings has reiterated a "sell (D)" rating for BTCS, despite other analysts like HC Wainwright giving it a "buy" rating with a target price increase to $7.00.
• Recent earnings reports show BTCS missed consensus estimates, reporting a loss of ($0.10) EPS and a revenue of $2.77 million, with a negative net margin of 268.37%.
• Insider trading activity includes CEO Charles W. Allen selling 50,000 shares at an average price of $4.77, reducing his ownership in the company by 1.08%.

BTCS (NASDAQ:BTCS - Get Free Report)'s stock had its "sell (d)" rating reiterated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright increased their target price on shares of BTCS from $5.00 to $7.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Wall Street Zen upgraded shares of BTCS from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, BTCS has an average rating of "Hold" and an average price target of $7.00.

BTCS Price Performance

Shares of NASDAQ:BTCS traded up $0.16 during midday trading on Wednesday, reaching $5.96. 3,859,106 shares of the company's stock traded hands, compared to its average volume of 3,609,993. The company has a debt-to-equity ratio of 0.17, a quick ratio of 8.19 and a current ratio of 8.19. BTCS has a 1 year low of $1.13 and a 1 year high of $8.49. The company has a market cap of $286.38 million, a P/E ratio of -5.23 and a beta of 1.28. The company has a fifty day simple moving average of $4.59 and a two-hundred day simple moving average of $3.34.

BTCS (NASDAQ:BTCS - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.03). The firm had revenue of $2.77 million for the quarter, compared to analyst estimates of $1.70 million. BTCS had a negative net margin of 268.37% and a negative return on equity of 51.90%. Equities analysts predict that BTCS will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Charles W. Allen sold 50,000 shares of BTCS stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $4.77, for a total value of $238,500.00. Following the completion of the sale, the chief executive officer owned 4,579,506 shares in the company, valued at approximately $21,844,243.62. This trade represents a 1.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michal Handerhan sold 112,779 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $6.00, for a total value of $676,674.00. Following the transaction, the chief operating officer owned 1,641,581 shares of the company's stock, valued at approximately $9,849,486. This represents a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 212,779 shares of company stock valued at $1,121,674 in the last ninety days. 42.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. ACT Wealth Management LLC purchased a new stake in shares of BTCS during the third quarter worth $58,000. Tidal Investments LLC purchased a new position in BTCS in the second quarter valued at $54,000. SBI Securities Co. Ltd. boosted its holdings in BTCS by 39.7% in the first quarter. SBI Securities Co. Ltd. now owns 24,846 shares of the company's stock valued at $37,000 after purchasing an additional 7,064 shares during the period. DLK Investment Management LLC boosted its holdings in BTCS by 13.3% in 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 during the period. Finally, Geode Capital Management LLC boosted its holdings in BTCS by 2.8% in the second quarter. Geode Capital Management LLC now owns 117,717 shares of the company's stock valued at $259,000 after purchasing an additional 3,172 shares during the period. Institutional investors and hedge funds own 3.48% of the company's stock.

BTCS Company Profile

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.

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