HC Wainwright Forecasts Strong Price Appreciation for BTCS (NASDAQ:BTCS) Stock

BTCS (NASDAQ:BTCS) had its price target raised by equities research analysts at HC Wainwright from $3.00 to $5.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 102.43% from the company’s current price.

BTCS Stock Performance

Shares of BTCS opened at $2.47 on Tuesday. The firm has a market cap of $42.05 million, a P/E ratio of 6.02 and a beta of 2.10. The business has a 50-day moving average of $2.62 and a 200 day moving average of $1.78. BTCS has a fifty-two week low of $0.95 and a fifty-two week high of $5.41.

Insider Buying and Selling at BTCS

In other news, Director Melanie Pump sold 22,000 shares of the company’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 sale, the director now directly owns 38,735 shares in the company, valued at $135,185.15. This represents a 36.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 44.30% of the company’s stock.

Hedge Funds Weigh In On BTCS

An institutional investor recently bought a new position in BTCS stock. Virtu Financial LLC purchased a new stake in shares of BTCS Inc. (NASDAQ:BTCS) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 23,458 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned approximately 0.14% of BTCS at the end of the most recent reporting period. Institutional investors own 3.48% of the company’s stock.

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.