BTCS (NASDAQ:BTCS) Releases Earnings Results, Misses Expectations By $0.29 EPS

BTCS (NASDAQ:BTCS) announced its quarterly earnings results on Thursday. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.29), Zacks reports. BTCS had a net margin of 366.80% and a negative return on equity of 15.42%. The firm had revenue of $2.20 million during the quarter, compared to analysts’ expectations of $2.20 million.

BTCS Price Performance

BTCS stock traded up $0.01 during midday trading on Friday, reaching $1.81. The company had a trading volume of 33,845 shares, compared to its average volume of 962,955. The firm’s fifty day simple moving average is $2.56 and its 200-day simple moving average is $2.28. BTCS has a 12-month low of $0.95 and a 12-month high of $5.41. The company has a market capitalization of $30.82 million, a P/E ratio of 4.41 and a beta of 3.05.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their price target on BTCS from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th.

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.