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

BTCS Inc. (NASDAQ:BTCS) was the recipient of a significant 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 trading volume of 115,300 shares, the short-interest ratio is currently 0.6 days.

Analyst Ratings Changes

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

BTCS Stock Performance

Shares of BTCS traded down $0.53 during mid-day trading on Friday, reaching $4.35. 6,146,905 shares of the company’s stock traded hands, compared to its average volume of 856,062. The business’s 50-day moving average price is $1.44 and its 200-day moving average price is $1.44. The stock has a market capitalization of $71.86 million, a P/E ratio of 10.61 and a beta of 1.55. BTCS has a 12 month low of $0.95 and a 12 month high of $5.41.

BTCS (NASDAQ:BTCS) last released its quarterly earnings results on Monday, August 19th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.40 million. BTCS had a negative return on equity of 14.44% and a net margin of 366.80%. Equities research analysts anticipate that BTCS will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BTCS stock. Heron Bay Capital Management acquired a new stake in shares of BTCS Inc. (NASDAQ:BTCS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 44,435 shares of the company’s stock, valued at approximately $61,000. Heron Bay Capital Management owned 0.28% of BTCS at the end of the most recent reporting period. 3.48% of the stock is currently owned by institutional investors.

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.