BTCS Inc. (NASDAQ:BTCS) Short Interest Update

BTCS Inc. (NASDAQ:BTCS) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 103,000 shares, a growth of 101.2% from the August 15th total of 51,200 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily volume of 109,000 shares, the short-interest ratio is presently 0.9 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On BTCS

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 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 44,435 shares of the company’s stock, valued at approximately $61,000. Heron Bay Capital Management owned about 0.28% of BTCS at the end of the most recent reporting period. 3.48% of the stock is currently owned by hedge funds and other institutional investors.

BTCS Stock Performance

BTCS traded up $0.05 on Friday, hitting $1.13. The company had a trading volume of 70,031 shares, compared to its average volume of 87,133. The stock has a market capitalization of $18.27 million, a price-to-earnings ratio of 0.88 and a beta of 1.52. The stock has a fifty day moving average price of $1.34 and a 200-day moving average price of $1.45. BTCS has a 12-month low of $0.86 and a 12-month high of $2.50.

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

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.