Insider Selling: BTCS Inc. (NASDAQ:BTCS) CEO Sells $116,450.00 in Stock

BTCS Inc. (NASDAQ:BTCS) CEO Charles W. Allen sold 85,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $1.37, for a total value of $116,450.00. Following the transaction, the chief executive officer now directly owns 4,293,622 shares of the company’s stock, valued at $5,882,262.14. This represents a 1.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

BTCS Trading Down 1.4 %

Shares of BTCS stock opened at $1.43 on Friday. BTCS Inc. has a 1 year low of $0.95 and a 1 year high of $5.41. The firm’s fifty day simple moving average is $2.03 and its 200 day simple moving average is $2.34. The firm has a market capitalization of $22.89 million, a P/E ratio of 3.49 and a beta of 2.90.

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

Hedge Funds Weigh In On BTCS

Several large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of BTCS during the 3rd quarter worth approximately $27,000. SBI Securities Co. Ltd. acquired a new position in shares of BTCS in the fourth quarter valued at $44,000. Geode Capital Management LLC lifted its position in 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 period. Invesco Ltd. acquired a new stake in BTCS during the fourth quarter worth $294,000. Finally, Renaissance Technologies LLC increased its holdings in BTCS by 242.3% in the 4th quarter. Renaissance Technologies LLC now owns 127,391 shares of the company’s stock valued at $315,000 after buying an additional 90,171 shares during the period. Institutional investors and hedge funds own 3.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price target on BTCS from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th.

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.