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

BTCS Inc. (NASDAQ:BTCS) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 51,200 shares, a decrease of 45.2% from the July 31st total of 93,400 shares. Based on an average daily volume of 109,600 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.6% of the company’s stock are short sold.

Hedge Funds 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 its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 quarter. Hedge funds and other institutional investors own 3.48% of the company’s stock.

Analyst Ratings Changes

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

BTCS Trading Down 2.5 %

BTCS stock traded down $0.03 on Wednesday, hitting $1.18. The company’s stock had a trading volume of 107,580 shares, compared to its average volume of 165,573. BTCS has a 1 year low of $0.85 and a 1 year high of $2.50. The stock has a market cap of $18.53 million, a price-to-earnings ratio of 0.94 and a beta of 1.60. The firm has a 50 day moving average of $1.42 and a two-hundred day moving average of $1.51.

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.