Insider Buying: BTCS (NASDAQ:BTCS) CEO Buys $56,547.10 in Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles Allen purchased 19,499 shares of BTCS stock in a transaction dated Tuesday, November 18th. The shares were purchased at an average price of $2.90 per share, for a total transaction of $56,547.10. Following the completion of the acquisition, the chief executive officer owned 4,599,005 shares of the company’s stock, valued at approximately $13,337,114.50. The trade was a 0.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

BTCS Stock Performance

BTCS stock opened at $2.78 on Friday. The business has a 50 day moving average of $4.13 and a 200-day moving average of $3.80. The company has a market capitalization of $130.22 million, a P/E ratio of 3.86 and a beta of 1.19. BTCS Inc. has a 1 year low of $1.25 and a 1 year high of $8.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.78 and a quick ratio of 4.78.

BTCS (NASDAQ:BTCS) last posted its earnings results on Thursday, November 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.13). The business had revenue of $4.94 million for the quarter, compared to the consensus estimate of $3.00 million. BTCS had a negative return on equity of 25.01% and a net margin of 464.44%. On average, equities research analysts predict that BTCS Inc. will post -0.08 earnings per share for the current year.

BTCS Announces Dividend

The business also recently announced a dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, September 26th.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Zacks Research upgraded BTCS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings raised BTCS from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, HC Wainwright upped their target price on BTCS from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

Institutional Investors Weigh In On BTCS

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in BTCS by 354.0% during the third quarter. Vanguard Group Inc. now owns 2,008,400 shares of the company’s stock worth $9,701,000 after purchasing an additional 1,565,996 shares during the period. Vident Advisory LLC acquired a new stake in shares of BTCS during the 3rd quarter worth approximately $750,000. Invesco Ltd. bought a new stake in shares of BTCS in the 2nd quarter valued at $293,000. Geode Capital Management LLC increased its stake in shares of BTCS by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 117,717 shares of the company’s stock valued at $259,000 after acquiring an additional 3,172 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of BTCS during the 3rd quarter valued at $449,000. Institutional investors own 3.48% of the company’s stock.

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.