BTCS Inc. (NASDAQ:BTCS) Short Interest Update

BTCS Inc. (NASDAQ:BTCS) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 97,700 shares, an increase of 116.6% from the September 30th total of 45,100 shares. Based on an average daily volume of 97,200 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.1% of the shares of the stock are sold short.

BTCS Stock Performance

BTCS stock traded down $0.03 during midday trading on Friday, reaching $1.18. 60,960 shares of the company were exchanged, compared to its average volume of 148,393. The company has a market capitalization of $18.53 million, a price-to-earnings ratio of 0.91 and a beta of 1.52. The firm’s 50-day simple moving average is $1.17 and its 200-day simple moving average is $1.38. BTCS has a 1 year low of $0.89 and a 1 year high of $2.50.

BTCS (NASDAQ:BTCS) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). BTCS had a negative return on equity of 13.94% and a net margin of 993.08%. The firm had revenue of $0.56 million for the quarter, compared to analyst estimates of $0.40 million. On average, analysts forecast that BTCS will post -0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of BTCS in a research report on Thursday, August 22nd.

Institutional Trading of BTCS

An institutional investor recently bought a new position in BTCS stock. Heron Bay Capital Management purchased a new position in BTCS Inc. (NASDAQ:BTCS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 44,435 shares of the company’s stock, valued at approximately $61,000. Heron Bay Capital Management owned about 0.28% of BTCS at the end of the most recent quarter. 3.48% of the stock is owned by institutional investors.

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.