BTCS Inc. (NASDAQ:BTCS – Get Free Report) 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.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in BTCS stock. Heron Bay Capital Management bought a new position in shares of BTCS Inc. (NASDAQ:BTCS – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 44,435 shares of the company’s stock, valued at approximately $61,000. Heron Bay Capital Management owned about 0.28% of BTCS as of its most recent SEC filing. 3.48% of the stock is owned by institutional investors.
BTCS Stock Performance
Shares of BTCS traded down $0.03 during trading hours on Friday, hitting $1.18. The stock had a trading volume of 60,960 shares, compared to its average volume of 148,393. The company’s fifty day simple moving average is $1.17 and its 200 day simple moving average is $1.38. BTCS has a 12-month low of $0.89 and a 12-month high of $2.50. The firm has a market cap of $18.53 million, a P/E ratio of 0.91 and a beta of 1.52.
Analysts Set New Price Targets
Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of BTCS in a research note on Thursday, August 22nd.
Get Our Latest Analysis on BTCS
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.
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