BTCS Inc. (NASDAQ:BTCS) Short Interest Down 18.0% in March

BTCS Inc. (NASDAQ:BTCS) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 467,700 shares, a drop of 18.0% from the February 28th total of 570,300 shares. Currently, 3.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 518,600 shares, the short-interest ratio is presently 0.9 days.

BTCS Price Performance

Shares of NASDAQ BTCS opened at $1.52 on Wednesday. The company has a market cap of $30.53 million, a P/E ratio of 3.71 and a beta of 3.05. The firm has a 50-day simple moving average of $2.36 and a two-hundred day simple moving average of $2.33. BTCS has a 1 year low of $0.95 and a 1 year high of $5.41.

BTCS (NASDAQ:BTCS) last announced its quarterly earnings results 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). The firm had revenue of $2.20 million during the quarter, compared to analysts’ expectations of $2.20 million. BTCS had a net margin of 366.80% and a negative return on equity of 15.42%. As a group, equities research analysts expect that BTCS will post -0.08 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in BTCS during the 4th quarter worth about $44,000. Virtu Financial LLC acquired a new position in shares of BTCS in the 3rd quarter valued at $27,000. Geode Capital Management LLC grew its position in 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 buying an additional 9,404 shares during the period. Invesco Ltd. purchased a new position in BTCS in the fourth quarter valued at $294,000. Finally, Renaissance Technologies LLC grew its position in shares of BTCS by 242.3% during the 4th 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. Hedge funds and other institutional investors own 3.48% of the company’s stock.

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.