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

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

Institutional Trading of Bitcoin Depot

A number of institutional investors have recently added to or reduced their stakes in the business. 272 Capital LP purchased a new position in Bitcoin Depot in the 3rd quarter worth approximately $401,000. Walleye Capital LLC boosted its stake 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 valued at $37,000 after purchasing an additional 12,337 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after purchasing an additional 26,000 shares during the period. 9.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Bitcoin Depot Trading Down 2.5 %

BTM stock traded down $0.04 during midday trading on Monday, reaching $1.56. 374,872 shares of the company’s stock traded hands, compared to its average volume of 378,346. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91. Bitcoin Depot has a fifty-two week low of $1.33 and a fifty-two week high of $3.52. The business has a 50-day moving average price of $1.74 and a two-hundred day moving average price of $1.69. The company has a market capitalization of $94.21 million and a P/E ratio of -1.68.

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.