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

BTCS Inc. (NASDAQ:BTCS) saw a large 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. Currently, 6.0% of the company’s stock are sold short. Based on an average trading volume of 3,340,000 shares, the short-interest ratio is currently 0.2 days.

Insiders Place Their Bets

In other BTCS news, Director Melanie Pump sold 22,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $3.49, for a total transaction of $76,780.00. Following the transaction, the director now directly owns 38,735 shares in the company, valued at $135,185.15. This represents a 36.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 44.30% of the stock is owned by company insiders.

Institutional Trading of BTCS

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in BTCS in the 3rd quarter worth approximately $27,000. Renaissance Technologies LLC boosted its stake in BTCS by 242.3% in the 4th quarter. Renaissance Technologies LLC now owns 127,391 shares of the company’s stock worth $315,000 after purchasing an additional 90,171 shares in the last quarter. Invesco Ltd. acquired a new stake in BTCS in the 4th quarter worth approximately $294,000. Geode Capital Management LLC boosted its stake in BTCS by 10.6% in the 4th 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 in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in BTCS in the 4th quarter worth approximately $44,000. 3.48% of the stock is currently owned by institutional investors and hedge funds.

BTCS Stock Up 3.2 %

Shares of BTCS stock traded up $0.09 on Friday, reaching $2.90. The stock had a trading volume of 277,516 shares, compared to its average volume of 957,979. The company has a 50 day moving average price of $2.93 and a 200 day moving average price of $2.14. BTCS has a 1 year low of $0.95 and a 1 year high of $5.41. The stock has a market capitalization of $49.36 million, a P/E ratio of 7.07 and a beta of 2.20.

Analyst Ratings Changes

Separately, HC Wainwright lifted their price objective on shares of 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.