BTCS (NASDAQ:BTCS) CEO Sells $133,350.00 in Stock

by · The Markets Daily

BTCS Inc. (NASDAQ:BTCS – Get Free Report) CEO Charles Allen sold 105,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $1.27, for a total value of $133,350.00. Following the completion of the sale, the chief executive officer owned 7,414,033 shares in the company, valued at approximately $9,415,821.91. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BTCS Stock Down 4.2%

Shares of NASDAQ BTCS opened at $1.13 on Friday. The stock has a market cap of $56.25 million, a P/E ratio of -0.46 and a beta of 3.33. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.18. BTCS Inc. has a 12-month low of $1.07 and a 12-month high of $8.49. The business’s fifty day simple moving average is $1.70 and its 200-day simple moving average is $2.13.

BTCS (NASDAQ:BTCS – Get Free Report) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $7.09 million during the quarter, compared to analyst estimates of $4.50 million. BTCS had a negative net margin of 503.06% and a negative return on equity of 14.31%. As a group, equities analysts predict that BTCS Inc. will post 0.02 EPS for the current fiscal year.

Institutional Trading of BTCS

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in BTCS by 1,856.8% in the third quarter. Bank of America Corp DE now owns 10,880 shares of the company’s stock valued at $53,000 after buying an additional 10,324 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of BTCS during the third quarter worth about $58,000. Boothbay Fund Management LLC acquired a new stake in shares of BTCS during the fourth quarter worth about $42,000. Intesa Sanpaolo S.p.A. acquired a new stake in shares of BTCS during the fourth quarter worth about $43,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of BTCS during the fourth quarter worth about $51,000. 3.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BTCS. Weiss Ratings restated a “hold (c)” rating on shares of BTCS in a research note on Friday, March 27th. HC Wainwright cut their price target on BTCS from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Finally, Wall Street Zen cut BTCS from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.00.

Read Our Latest Research Report on BTCS

BTCS Company Profile

(Get Free Report)

BTCS, Inc (NASDAQ: BTCS) is a digital asset technology company focused on blockchain infrastructure and related investments. Originally founded in 2012 as Bitcoin Shop, Inc, the company pivoted in 2018 to concentrate on blockchain technology applications, digital asset management and strategic investments in early-stage ventures. BTCS holds a diversified portfolio that includes cryptocurrency mining equipment, digital wallets, and equity stakes in promising blockchain startups.

In its mining operations, BTCS acquires and manages mining hardware to secure blockchain networks and generate newly minted digital tokens.

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