BTCS Inc. (NASDAQ:BTCS) Sees Large Drop in Short Interest

BTCS Inc. (NASDAQ:BTCS) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 386,700 shares, a decline of 77.8% from the November 15th total of 1,740,000 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average trading volume of 2,960,000 shares, the short-interest ratio is currently 0.1 days.

Insider Buying and Selling at BTCS

In related news, Director Melanie Pump sold 22,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $3.49, for a total transaction of $76,780.00. Following the transaction, the director now directly owns 38,735 shares in the company, valued at approximately $135,185.15. This represents a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 44.30% of the stock is currently owned by insiders.

Institutional Trading of BTCS

An institutional investor recently bought a new position in BTCS stock. Heron Bay Capital Management acquired a new stake in BTCS Inc. (NASDAQ:BTCS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

BTCS Stock Performance

Shares of BTCS traded up $0.18 during trading hours on Wednesday, hitting $3.66. The stock had a trading volume of 439,478 shares, compared to its average volume of 923,304. BTCS has a 12-month low of $0.95 and a 12-month high of $5.41. The firm has a market cap of $62.31 million, a P/E ratio of 8.49 and a beta of 2.10. The company’s fifty day simple moving average is $2.29 and its 200 day simple moving average is $1.69.

About BTCS

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.