BTCS Inc. (NASDAQ:BTCS) Sees Significant Increase in Short Interest

BTCS Inc. (NASDAQ:BTCS) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 97,700 shares, a growth of 116.6% from the September 30th total of 45,100 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily volume of 97,200 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On BTCS

An institutional investor recently bought a new position in BTCS stock. Heron Bay Capital Management bought a new position in shares of BTCS Inc. (NASDAQ:BTCS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 quarter. 3.48% of the stock is currently owned by hedge funds and other institutional investors.

BTCS Stock Performance

BTCS stock traded down $0.03 during midday trading on Friday, hitting $1.18. 60,960 shares of the company’s stock were exchanged, compared to its average volume of 148,393. The firm’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.38. BTCS has a 12-month low of $0.89 and a 12-month high of $2.50. The stock has a market cap of $18.53 million, a price-to-earnings ratio of 0.91 and a beta of 1.52.

BTCS (NASDAQ:BTCS) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $0.40 million. BTCS had a negative return on equity of 13.94% and a net margin of 993.08%. On average, equities research 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.