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

BTCS Inc. (NASDAQ:BTCS) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,740,000 shares, a growth of 2,540.4% from the October 31st total of 65,900 shares. Currently, 18.0% of the company’s shares are short sold. Based on an average daily volume of 2,830,000 shares, the days-to-cover ratio is currently 0.6 days.

BTCS Price Performance

NASDAQ:BTCS opened at $3.77 on Friday. The firm’s 50-day moving average price is $1.90 and its 200-day moving average price is $1.58. The company has a market capitalization of $64.17 million, a PE ratio of 9.20 and a beta of 1.55. BTCS has a 1-year low of $0.95 and a 1-year high of $5.41.

Insider Buying and Selling

In related news, Director Melanie Pump sold 22,000 shares of the firm’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 completion of the sale, the director now owns 38,735 shares of the company’s stock, valued at $135,185.15. This trade represents a 36.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 44.30% of the stock is owned by insiders.

Hedge Funds Weigh In On BTCS

A hedge fund recently bought a new stake in BTCS stock. Heron Bay Capital Management purchased a new stake in shares of BTCS Inc. (NASDAQ:BTCS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 44,435 shares of the company’s stock, valued at approximately $61,000. Heron Bay Capital Management owned approximately 0.28% of BTCS at the end of the most recent reporting period. Institutional investors and hedge funds own 3.48% of the company’s stock.

Analyst Ratings Changes

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

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.