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

Bitcoin Depot Inc. (NASDAQ:BTM) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 293,100 shares, a decrease of 46.3% from the March 31st total of 546,000 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 279,900 shares, the days-to-cover ratio is currently 1.0 days.

Insider Buying and Selling

In related news, COO Christopher Scott Buchanan sold 20,476 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $1.33, for a total transaction of $27,233.08. Following the transaction, the chief operating officer now directly owns 169,276 shares of the company’s stock, valued at approximately $225,137.08. This represents a 10.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 55,000 shares of company stock valued at $77,348 over the last ninety days. 70.23% of the stock is owned by corporate insiders.

Institutional Trading of Bitcoin Depot

Institutional investors have recently made changes to their positions in the company. Blue Owl Capital Holdings LP boosted its holdings in Bitcoin Depot by 480.0% during the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after purchasing an additional 15,000 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Bitcoin Depot by 96.4% in the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock worth $237,000 after buying an additional 71,700 shares during the last quarter. Radcliffe Capital Management L.P. boosted its stake in shares of Bitcoin Depot by 134.3% in the 4th quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock worth $463,000 after buying an additional 163,854 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Bitcoin Depot in the fourth quarter valued at approximately $267,000. Finally, 272 Capital LP purchased a new position in Bitcoin Depot in the third quarter worth $401,000. Institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Price Performance

BTM stock opened at $1.55 on Wednesday. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50-day simple moving average of $1.33 and a two-hundred day simple moving average of $1.57. The company has a market capitalization of $99.11 million, a P/E ratio of -1.67 and a beta of -0.26. Bitcoin Depot has a 52-week low of $0.93 and a 52-week high of $3.52.

Bitcoin Depot (NASDAQ:BTM) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.25). The company had revenue of $136.83 million for the quarter, compared to the consensus estimate of $131.50 million. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 2.28%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BTM. B. Riley reaffirmed a “buy” rating and set a $4.70 target price (up from $4.50) on shares of Bitcoin Depot in a research report on Wednesday, March 19th. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Bitcoin Depot in a report on Tuesday, March 18th.

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.