Benjamin Henry Hunter Sells 10,000 Shares of BTCS (NASDAQ:BTCS) Stock

BTCS Inc. (NASDAQ:BTCS) insider Benjamin Henry Hunter sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $1.21, for a total transaction of $12,100.00. Following the transaction, the insider owned 1,278,018 shares of the company’s stock, valued at approximately $1,546,401.78. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

BTCS Stock Performance

NASDAQ:BTCS traded down $0.05 during trading hours on Friday, hitting $1.13. 638,974 shares of the company were exchanged, compared to its average volume of 829,196. The stock has a market capitalization of $56.25 million, a price-to-earnings ratio of -0.46 and a beta of 3.33. BTCS Inc. has a 52-week low of $1.07 and a 52-week high of $8.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.90 and a quick ratio of 2.90. The company’s 50 day moving average price is $1.71 and its 200-day moving average price is $2.14.

BTCS (NASDAQ:BTCS) last released its earnings results on Thursday, March 26th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $7.09 million for the quarter, compared to analysts’ expectations of $4.50 million. BTCS had a negative return on equity of 14.31% and a negative net margin of 503.06%. As a group, research analysts forecast that BTCS Inc. will post 0.02 earnings per share for the current year.

Institutional Trading of BTCS

Several large investors have recently made changes to their positions in BTCS. Boothbay Fund Management LLC purchased a new stake in shares of BTCS in the 4th quarter valued at $42,000. Intesa Sanpaolo S.p.A. purchased a new stake in BTCS during the fourth quarter worth $43,000. Squarepoint Ops LLC purchased a new stake in BTCS during the fourth quarter worth $51,000. ACT Wealth Management LLC boosted its holdings in BTCS by 66.7% during the fourth quarter. ACT Wealth Management LLC now owns 20,000 shares of the company’s stock worth $53,000 after buying an additional 8,000 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in BTCS by 1,856.8% during the third quarter. Bank of America Corp DE now owns 10,880 shares of the company’s stock worth $53,000 after buying an additional 10,324 shares in the last quarter. 3.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BTCS has been the topic of several research analyst reports. Wall Street Zen downgraded shares of BTCS from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 28th. HC Wainwright dropped their target price on shares of BTCS from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of BTCS in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.00.

About BTCS

BTCS, Inc (NASDAQ: BTCS) is a digital asset technology company focused on blockchain infrastructure and related investments. Originally founded in 2012 as Bitcoin Shop, Inc, the company pivoted in 2018 to concentrate on blockchain technology applications, digital asset management and strategic investments in early-stage ventures. BTCS holds a diversified portfolio that includes cryptocurrency mining equipment, digital wallets, and equity stakes in promising blockchain startups.

In its mining operations, BTCS acquires and manages mining hardware to secure blockchain networks and generate newly minted digital tokens.