BTCS Inc. (NASDAQ:BTCS) Short Interest Update

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

Hedge Funds Weigh In On BTCS

A hedge fund recently bought a new stake in BTCS stock. Heron Bay Capital Management purchased a new position in shares of BTCS Inc. (NASDAQ:BTCS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 44,435 shares of the company’s stock, valued at approximately $61,000. Heron Bay Capital Management owned approximately 0.28% of BTCS as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 3.48% of the company’s stock.

BTCS Stock Down 2.5 %

Shares of NASDAQ BTCS traded down $0.03 during midday trading 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 has a market capitalization of $18.53 million, a price-to-earnings ratio of 0.91 and a beta of 1.52. BTCS has a 1-year low of $0.89 and a 1-year high of $2.50. The company has a fifty day moving average price of $1.17 and a 200 day moving average price of $1.38.

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

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective 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.