BTCS Inc. (NASDAQ:BTCS) Short Interest Up 2,540.4% in November

BTCS Inc. (NASDAQ:BTCS) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 1,740,000 shares, an increase of 2,540.4% from the October 31st total of 65,900 shares. Approximately 18.0% of the company’s stock are sold short. Based on an average daily volume of 2,830,000 shares, the short-interest ratio is currently 0.6 days.

BTCS Trading Up 9.8 %

Shares of NASDAQ:BTCS traded up $0.33 during mid-day trading on Wednesday, reaching $3.71. The company had a trading volume of 956,510 shares, compared to its average volume of 921,332. BTCS has a one year low of $0.95 and a one year high of $5.41. The company’s 50-day moving average price is $1.80 and its 200-day moving average price is $1.54. The firm has a market cap of $63.14 million, a price-to-earnings ratio of 8.24 and a beta of 1.55.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other BTCS news, Director Melanie Pump sold 22,000 shares of BTCS stock in a transaction on Monday, November 25th. The shares were sold at an average price of $3.49, for a total transaction of $76,780.00. Following the completion of the transaction, the director now directly owns 38,735 shares of the company’s stock, valued at $135,185.15. The trade was a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 44.30% of the company’s stock.

Institutional Investors Weigh In On BTCS

An institutional investor recently bought a new position in BTCS stock. Heron Bay Capital Management bought a new stake in shares of BTCS Inc. (NASDAQ:BTCS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.

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.