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.

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) 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.

BTCS (NASDAQ:BTCS) last announced its quarterly earnings results on Monday, August 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $0.56 million during the quarter, compared to the consensus estimate of $0.40 million. BTCS had a negative return on equity of 13.94% and a net margin of 993.08%. As a group, sell-side analysts predict that BTCS will post -0.08 earnings per share for the current fiscal year.

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.

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.