HC Wainwright Issues Positive Forecast for BTCS (NASDAQ:BTCS) Stock Price

BTCS (NASDAQ:BTCS) had its price objective raised by stock analysts at HC Wainwright from $3.00 to $5.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 102.43% from the stock’s current price.

BTCS Stock Performance

Shares of NASDAQ:BTCS opened at $2.47 on Tuesday. BTCS has a 52-week low of $0.95 and a 52-week high of $5.41. The business’s 50 day simple moving average is $2.62 and its two-hundred day simple moving average is $1.78. The firm has a market cap of $42.05 million, a P/E ratio of 6.02 and a beta of 2.10.

Insider Buying and Selling at BTCS

In other news, Director Melanie Pump sold 22,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $135,185.15. This trade represents 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 available through this hyperlink. Insiders own 44.30% of the company’s stock.

Institutional Trading of BTCS

A hedge fund recently bought a new stake in BTCS stock. Virtu Financial LLC purchased a new stake in shares of BTCS Inc. (NASDAQ:BTCS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,458 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned 0.14% of BTCS as of its most recent filing with the Securities & Exchange Commission. Institutional investors 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.