BTCS Inc. (NASDAQ:BTCS) Short Interest Down 77.8% in November

BTCS Inc. (NASDAQ:BTCS) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 386,700 shares, a decline of 77.8% from the November 15th total of 1,740,000 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily volume of 2,960,000 shares, the days-to-cover ratio is presently 0.1 days.

Insider Buying and Selling

In other BTCS news, Director Melanie Pump sold 22,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $3.49, for a total transaction of $76,780.00. Following the transaction, the director now owns 38,735 shares of the company’s stock, valued at approximately $135,185.15. This trade represents a 36.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 44.30% of the stock is owned by company insiders.

Institutional Trading of BTCS

A hedge fund recently bought a new stake in BTCS stock. Heron Bay Capital Management acquired a new position in BTCS Inc. (NASDAQ:BTCS) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 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 SEC filing. Institutional investors and hedge funds own 3.48% of the company’s stock.

Wall Street Analyst Weigh In

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

BTCS Price Performance

BTCS stock traded up $0.18 during mid-day trading on Wednesday, reaching $3.66. The company had a trading volume of 439,478 shares, compared to its average volume of 923,304. The company has a market capitalization of $62.31 million, a P/E ratio of 8.49 and a beta of 2.10. The stock’s 50-day simple moving average is $2.29 and its 200-day simple moving average is $1.69. BTCS has a 1 year low of $0.95 and a 1 year high of $5.41.

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.