BTCS Inc. (NASDAQ:BTCS) Short Interest Up 94.4% in January

BTCS Inc. (NASDAQ:BTCS) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 650,300 shares, an increase of 94.4% from the January 15th total of 334,500 shares. Based on an average daily volume of 3,340,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 6.0% of the shares of the stock are sold short.

BTCS Price Performance

Shares of BTCS traded up $0.09 during midday trading on Friday, hitting $2.90. The stock had a trading volume of 277,516 shares, compared to its average volume of 957,979. BTCS has a 1 year low of $0.95 and a 1 year high of $5.41. The firm has a market cap of $49.36 million, a PE ratio of 7.07 and a beta of 2.20. The stock’s 50 day moving average is $2.93 and its 200 day moving average is $2.14.

Insider Activity at BTCS

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BTCS. Invesco Ltd. bought a new position in shares of BTCS in the fourth quarter worth about $294,000. Renaissance Technologies LLC grew its holdings in shares of BTCS by 242.3% in the fourth 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. Virtu Financial LLC bought a new position in shares of BTCS in the third quarter worth about $27,000. SBI Securities Co. Ltd. bought a new position in shares of BTCS in the fourth quarter worth about $44,000. Finally, Geode Capital Management LLC grew its holdings in shares of BTCS by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 98,019 shares of the company’s stock worth $242,000 after purchasing an additional 9,404 shares during the last quarter. 3.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their target price on shares of BTCS from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th.

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.