Short Interest in BTCS Inc. (NASDAQ:BTCS) Declines By 32.5%

by · The Markets Daily

BTCS Inc. (NASDAQ:BTCS – Get Free Report) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 65,900 shares, a drop of 32.5% from the October 15th total of 97,700 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 115,300 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of BTCS in a research report on Thursday, August 22nd.

Check Out Our Latest Stock Report on BTCS

Hedge Funds Weigh In On BTCS

An institutional investor recently bought a new position in BTCS stock. Heron Bay Capital Management purchased a new position in shares of BTCS Inc. (NASDAQ:BTCS – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 44,435 shares of the company’s stock, valued at approximately $61,000. Heron Bay Capital Management owned 0.28% of BTCS as of its most recent filing with the Securities and Exchange Commission. 3.48% of the stock is owned by institutional investors and hedge funds.

BTCS Stock Performance

Shares of BTCS stock traded down $0.53 during trading on Friday, hitting $4.35. 6,114,874 shares of the stock were exchanged, compared to its average volume of 856,062. BTCS has a 12 month low of $0.95 and a 12 month high of $5.41. The stock’s fifty day moving average is $1.38 and its 200 day moving average is $1.42. The stock has a market cap of $71.86 million, a PE ratio of 10.56 and a beta of 1.55.

BTCS (NASDAQ:BTCS – Get Free Report) last posted its earnings results on Monday, August 19th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). BTCS had a net margin of 366.80% and a negative return on equity of 14.44%. The firm had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $0.40 million. Sell-side analysts anticipate that BTCS will post -0.08 EPS for the current fiscal year.

About BTCS

(Get Free Report)

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.

Further Reading