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

BTCS Inc. (NASDAQ:BTCSGet Free Report) saw a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 48,400 shares, a decrease of 29.1% from the May 15th total of 68,300 shares. Based on an average trading volume of 132,100 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.6% of the company’s shares are sold short.

BTCS Price Performance

BTCS traded down $0.01 on Friday, reaching $1.46. The company’s stock had a trading volume of 161,528 shares, compared to its average volume of 111,241. The stock has a market cap of $22.92 million, a price-to-earnings ratio of 1.13 and a beta of 1.48. BTCS has a 1 year low of $0.85 and a 1 year high of $2.50. The business’s 50 day moving average is $1.54 and its 200 day moving average is $1.59.

BTCS (NASDAQ:BTCSGet Free Report) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). BTCS had a negative return on equity of 20.75% and a net margin of 1,519.73%. The firm had revenue of $0.39 million during the quarter, compared to the consensus estimate of $0.40 million. As a group, research analysts forecast that BTCS will post -0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of BTCS in a research note on Thursday, May 16th.

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BTCS Company Profile

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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.

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