Short Interest in BTCS Inc. (NASDAQ:BTCS) Grows By 9.5%

BTCS Inc. (NASDAQ:BTCS) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 423,400 shares, a growth of 9.5% from the November 30th total of 386,700 shares. Based on an average daily trading volume, of 3,030,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 4.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright upped their price objective on BTCS from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th.

BTCS Stock Performance

BTCS stock opened at $2.47 on Thursday. The stock has a fifty day moving average of $2.82 and a 200-day moving average of $1.83. BTCS has a fifty-two week low of $0.95 and a fifty-two week high of $5.41. The company has a market capitalization of $42.05 million, a price-to-earnings ratio of 6.02 and a beta of 2.10.

Insider Buying and Selling

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

Institutional Investors Weigh In On BTCS

A hedge fund recently bought a new stake in BTCS stock. Virtu Financial LLC bought a new position in shares of BTCS Inc. (NASDAQ:BTCS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,458 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned 0.14% of BTCS at the end of the most recent quarter. Institutional investors and hedge funds own 3.48% of the company’s stock.

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.