BTCS Inc. (NASDAQ:BTCS) CEO Charles W. Allen Sells 65,000 Shares of Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles W. Allen sold 65,000 shares of the firm’s stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $1.44, for a total value of $93,600.00. Following the transaction, the chief executive officer now directly owns 4,178,622 shares of the company’s stock, valued at approximately $6,017,215.68. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BTCS Stock Up 8.7 %

BTCS stock opened at $1.50 on Thursday. BTCS Inc. has a 52 week low of $0.95 and a 52 week high of $5.41. The company’s 50 day moving average price is $2.09 and its two-hundred day moving average price is $2.33. The stock has a market cap of $24.01 million, a P/E ratio of 3.66 and a beta of 2.90.

BTCS (NASDAQ:BTCS) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.29). The company had revenue of $2.20 million during the quarter, compared to the consensus estimate of $2.20 million. BTCS had a negative return on equity of 15.42% and a net margin of 366.80%. On average, equities analysts anticipate that BTCS Inc. will post -0.08 EPS for the current year.

Institutional Investors Weigh In On BTCS

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 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 valued at $315,000 after acquiring an additional 90,171 shares during the period. Invesco Ltd. bought a new stake in BTCS during the 4th quarter valued at $294,000. Geode Capital Management LLC raised its holdings in BTCS by 10.6% during the 4th 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 period. Virtu Financial LLC bought a new stake in BTCS during the 3rd quarter valued at $27,000. Finally, SBI Securities Co. Ltd. bought a new stake in BTCS during the 4th quarter valued at $44,000. Institutional investors own 3.48% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lifted their price objective on BTCS from $3.00 to $5.00 and gave the stock a “buy” rating in a research report 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.