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

BTCS Inc. (NASDAQ:BTCS) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 44,200 shares, a decline of 8.7% from the May 31st total of 48,400 shares. Based on an average daily trading volume, of 118,900 shares, the short-interest ratio is presently 0.4 days. Approximately 0.5% of the shares of the stock are sold short.

BTCS Stock Performance

BTCS stock traded up $0.10 on Monday, reaching $1.48. The company had a trading volume of 155,235 shares, compared to its average volume of 179,603. The company’s fifty day moving average is $1.52 and its 200 day moving average is $1.59. The company has a market cap of $23.24 million, a P/E ratio of 1.15 and a beta of 1.48. BTCS has a 1 year low of $0.85 and a 1 year high of $2.50.

BTCS (NASDAQ:BTCS) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $0.39 million for the quarter, compared to the consensus estimate of $0.40 million. BTCS had a negative return on equity of 20.75% and a net margin of 1,519.73%. On average, sell-side analysts predict that BTCS will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.