BTCS (NASDAQ:BTCS) Stock Price Down 1% – Time to Sell?

BTCS Inc. (NASDAQ:BTCS)’s stock price dropped 1% during mid-day trading on Wednesday . The stock traded as low as $2.95 and last traded at $3.06. Approximately 362,568 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 884,607 shares. The stock had previously closed at $3.09.

Analyst Ratings Changes

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 Down 1.0 %

The firm has a 50 day simple moving average of $3.05 and a 200-day simple moving average of $2.08. The stock has a market cap of $52.08 million, a P/E ratio of 7.46 and a beta of 2.20.

Insider Transactions at BTCS

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

Hedge Funds Weigh In On BTCS

An institutional investor recently bought a new position in BTCS stock. Virtu Financial LLC purchased a new position in shares of BTCS Inc. (NASDAQ:BTCS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,458 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned approximately 0.14% of BTCS at the end of the most recent reporting period. 3.48% of the stock is currently owned by institutional investors.

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.