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 BTCS stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $1.44, for a total transaction of $93,600.00. Following the sale, the chief executive officer now directly owns 4,178,622 shares of the company’s stock, valued at $6,017,215.68. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

BTCS Stock Down 3.3 %

BTCS stock opened at $1.45 on Friday. The company has a market capitalization of $23.21 million, a PE ratio of 3.54 and a beta of 2.90. The firm has a fifty day simple moving average of $2.06 and a two-hundred day simple moving average of $2.33. BTCS Inc. has a twelve month low of $0.95 and a twelve month high of $5.41.

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

Hedge Funds Weigh In On BTCS

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of BTCS in the fourth quarter valued at about $44,000. Virtu Financial LLC purchased a new position in shares of BTCS in the third quarter valued at about $27,000. Renaissance Technologies LLC increased its position in shares of BTCS by 242.3% in the fourth quarter. Renaissance Technologies LLC now owns 127,391 shares of the company’s stock valued at $315,000 after acquiring an additional 90,171 shares during the period. Invesco Ltd. purchased a new position in shares of BTCS in the fourth quarter valued at about $294,000. Finally, Geode Capital Management LLC increased its position in shares of BTCS by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 98,019 shares of the company’s stock valued at $242,000 after acquiring an additional 9,404 shares during the period. Hedge funds and other institutional investors own 3.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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