BTCS Inc. (NASDAQ:BTCS) Short Interest Update

BTCS Inc. (NASDAQ:BTCS) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 3,082,842 shares, a growth of 41.8% from the January 29th total of 2,174,511 shares. Based on an average trading volume of 1,381,877 shares, the short-interest ratio is currently 2.2 days. Currently, 11.5% of the company’s stock are sold short. Currently, 11.5% of the company’s stock are sold short. Based on an average trading volume of 1,381,877 shares, the short-interest ratio is currently 2.2 days.

Institutional Trading of BTCS

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of BTCS by 2.8% during the second quarter. Geode Capital Management LLC now owns 117,717 shares of the company’s stock worth $259,000 after purchasing an additional 3,172 shares during the last quarter. Invesco Ltd. acquired a new stake in BTCS during the 2nd quarter worth about $293,000. Tidal Investments LLC purchased a new position in shares of BTCS during the 2nd quarter valued at about $54,000. ACT Wealth Management LLC acquired a new position in shares of BTCS in the 3rd quarter valued at about $58,000. Finally, SG Americas Securities LLC purchased a new stake in shares of BTCS in the third quarter worth about $53,000. Institutional investors and hedge funds own 3.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of BTCS in a research note on Monday, December 29th. Zacks Research raised shares of BTCS from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.00.

BTCS Trading Down 3.0%

BTCS stock opened at $1.60 on Friday. The stock has a 50-day moving average price of $2.36 and a 200 day moving average price of $3.42. The company has a market capitalization of $74.94 million, a price-to-earnings ratio of 2.22 and a beta of 3.13. BTCS has a 52 week low of $1.25 and a 52 week high of $8.49. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.05.

BTCS Company Profile

BTCS, Inc (NASDAQ: BTCS) is a digital asset technology company focused on blockchain infrastructure and related investments. Originally founded in 2012 as Bitcoin Shop, Inc, the company pivoted in 2018 to concentrate on blockchain technology applications, digital asset management and strategic investments in early-stage ventures. BTCS holds a diversified portfolio that includes cryptocurrency mining equipment, digital wallets, and equity stakes in promising blockchain startups.

In its mining operations, BTCS acquires and manages mining hardware to secure blockchain networks and generate newly minted digital tokens.