Short Interest in Bitcoin Depot Inc. (NASDAQ:BTM) Rises By 13.1%

Bitcoin Depot Inc. (NASDAQ:BTM) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 574,800 shares, a growth of 13.1% from the December 15th total of 508,400 shares. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is presently 0.5 days. Currently, 9.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Noble Financial raised Bitcoin Depot to a “strong-buy” rating in a research report on Thursday, October 17th.

Bitcoin Depot Stock Performance

Shares of BTM stock traded up $0.15 during midday trading on Friday, hitting $1.79. 1,219,698 shares of the company were exchanged, compared to its average volume of 348,309. Bitcoin Depot has a 52 week low of $1.33 and a 52 week high of $3.52. The firm has a market capitalization of $108.10 million and a P/E ratio of -1.92. The firm’s 50 day moving average price is $1.84 and its two-hundred day moving average price is $1.68. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91.

Institutional Trading of Bitcoin Depot

A number of institutional investors have recently bought and sold shares of the business. Walleye Capital LLC increased its position in shares of Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after purchasing an additional 12,337 shares during the period. Renaissance Technologies LLC increased its holdings in Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after buying an additional 26,000 shares during the period. Finally, 272 Capital LP acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at approximately $401,000. Institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Company Profile

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.