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

BTCS Inc. (NASDAQ:BTCS) CEO Charles W. Allen sold 65,000 shares of the 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 completion of the sale, the chief executive officer now owns 4,178,622 shares in the company, valued at $6,017,215.68. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

BTCS Stock Up 8.7 %

BTCS opened at $1.50 on Thursday. The business’s fifty day simple moving average is $2.09 and its 200 day simple moving average is $2.33. BTCS Inc. has a 52 week low of $0.95 and a 52 week high of $5.41. The stock has a market cap of $24.01 million, a PE ratio of 3.66 and a beta of 2.90.

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

Institutional Trading of BTCS

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in BTCS in the fourth quarter worth about $44,000. Virtu Financial LLC purchased a new position in shares of BTCS during the third quarter valued at approximately $27,000. Renaissance Technologies LLC lifted its holdings in shares of BTCS by 242.3% during the fourth quarter. Renaissance Technologies LLC now owns 127,391 shares of the company’s stock valued at $315,000 after purchasing an additional 90,171 shares during the last quarter. Invesco Ltd. purchased a new position in shares of BTCS during the fourth quarter valued at approximately $294,000. Finally, Geode Capital Management LLC lifted its holdings in shares of BTCS by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 98,019 shares of the company’s stock valued at $242,000 after purchasing an additional 9,404 shares during the last quarter. 3.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their target price on BTCS from $3.00 to $5.00 and gave the company a “buy” rating in a research note 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.