Bitcoin Depot Inc. (NASDAQ:BTM) Short Interest Update

Bitcoin Depot Inc. (NASDAQ:BTM) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 294,900 shares, an increase of 6.9% from the September 30th total of 275,900 shares. Based on an average trading volume of 79,000 shares, the short-interest ratio is currently 3.7 days. Approximately 5.1% of the company’s stock are sold short.

Bitcoin Depot Trading Down 2.0 %

Shares of BTM traded down $0.03 during trading hours on Thursday, hitting $1.48. 66,342 shares of the stock were exchanged, compared to its average volume of 197,015. The firm has a market capitalization of $88.23 million, a P/E ratio of -0.80 and a beta of -0.35. The company has a debt-to-equity ratio of 9.33, a current ratio of 1.16 and a quick ratio of 1.16. Bitcoin Depot has a fifty-two week low of $1.33 and a fifty-two week high of $3.70. The business has a 50-day moving average of $1.55 and a 200-day moving average of $1.71.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). Bitcoin Depot had a negative net margin of 3.10% and a negative return on equity of 307.37%. The business had revenue of $163.07 million during the quarter, compared to analyst estimates of $148.49 million. On average, research analysts expect that Bitcoin Depot will post -0.09 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Andrew Mitchell Paul purchased 19,422 shares of Bitcoin Depot stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $1.54 per share, with a total value of $29,909.88. Following the transaction, the insider now directly owns 19,422 shares in the company, valued at $29,909.88. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Andrew Mitchell Paul purchased 19,422 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $1.54 per share, for a total transaction of $29,909.88. Following the completion of the purchase, the insider now directly owns 19,422 shares in the company, valued at $29,909.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christopher Scott Buchanan sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total value of $31,200.00. Following the sale, the chief operating officer now owns 241,276 shares in the company, valued at approximately $376,390.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 155,786 shares of company stock worth $257,817 and have sold 60,329 shares worth $93,417. 20.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bitcoin Depot

An institutional investor recently raised its position in Bitcoin Depot stock. Shaolin Capital Management LLC lifted its holdings in shares of Bitcoin Depot Inc. (NASDAQ:BTM) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 699,600 shares of the company’s stock after acquiring an additional 49,600 shares during the period. Shaolin Capital Management LLC owned approximately 1.17% of Bitcoin Depot worth $1,326,000 at the end of the most recent reporting period. 9.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BTM shares. Noble Financial raised Bitcoin Depot to a “strong-buy” rating in a research report on Thursday, October 17th. HC Wainwright lowered their price objective on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, August 15th.

About Bitcoin Depot

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. Its customers can buy and sell bitcoin, litecoin, and ethereum cryptocurrencies using the BTM kiosk network and other services. The company also engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering, as well as its website through over-the-counter trade.