BTCS Inc. (NASDAQ:BTCS) Short Interest Update

by · The Markets Daily

BTCS Inc. (NASDAQ:BTCS – Get Free Report) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 467,700 shares, a drop of 18.0% from the February 28th total of 570,300 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average trading volume of 518,600 shares, the days-to-cover ratio is currently 0.9 days.

BTCS Price Performance

BTCS stock opened at $1.65 on Thursday. The business has a 50 day moving average of $2.33 and a 200-day moving average of $2.33. The company has a market capitalization of $33.15 million, a P/E ratio of 4.02 and a beta of 3.05. BTCS has a 1 year low of $0.95 and a 1 year high of $5.41.

BTCS (NASDAQ:BTCS – Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.29). The business had revenue of $2.20 million during the quarter, compared to analyst estimates of $2.20 million. BTCS had a net margin of 366.80% and a negative return on equity of 15.42%. Equities analysts anticipate that BTCS will post -0.08 EPS for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright upped their target price on BTCS from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th.

Get Our Latest Report on BTCS

Institutional Trading of BTCS

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of BTCS in the 3rd quarter valued at about $27,000. SBI Securities Co. Ltd. acquired a new position in shares of BTCS in the fourth quarter worth approximately $44,000. Geode Capital Management LLC boosted its holdings in BTCS by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 98,019 shares of the company’s stock valued at $242,000 after acquiring an additional 9,404 shares during the last quarter. Invesco Ltd. acquired a new stake in BTCS during the 4th quarter valued at approximately $294,000. Finally, Renaissance Technologies LLC raised its holdings in BTCS by 242.3% during the 4th quarter. Renaissance Technologies LLC now owns 127,391 shares of the company’s stock worth $315,000 after purchasing an additional 90,171 shares during the last quarter. 3.48% of the stock is currently owned by institutional investors and hedge funds.

BTCS Company Profile

(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.

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