BTCS Inc. (NASDAQ:BTCS) Short Interest Down 28.2% in December

BTCS Inc. (NASDAQ:BTCS) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 303,800 shares, a decrease of 28.2% from the December 15th total of 423,400 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily trading volume, of 3,070,000 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity at BTCS

In other BTCS news, Director Melanie Pump sold 22,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $3.49, for a total value of $76,780.00. Following the transaction, the director now directly owns 38,735 shares in the company, valued at $135,185.15. The trade was a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 44.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BTCS stock. Heron Bay Capital Management bought a new position in BTCS Inc. (NASDAQ:BTCS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 44,435 shares of the company’s stock, valued at approximately $61,000. Heron Bay Capital Management owned about 0.28% of BTCS as of its most recent SEC filing. 3.48% of the stock is owned by institutional investors and hedge funds.

BTCS Stock Up 12.1 %

Shares of NASDAQ:BTCS traded up $0.30 during midday trading on Wednesday, reaching $2.78. 441,148 shares of the company traded hands, compared to its average volume of 268,047. The firm’s fifty day moving average price is $3.08 and its two-hundred day moving average price is $1.91. The firm has a market capitalization of $47.33 million, a price-to-earnings ratio of 6.78 and a beta of 2.23. BTCS has a 12 month low of $0.95 and a 12 month high of $5.41.

Wall Street Analyst Weigh In

Separately, HC Wainwright increased their target price on shares of BTCS from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th.

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.