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

by · The Markets Daily

Bitcoin Depot Inc. (NASDAQ:BTM – Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 546,000 shares, a drop of 18.3% from the March 15th total of 668,300 shares. Approximately 3.7% of the company’s shares are sold short. Based on an average daily volume of 323,900 shares, the short-interest ratio is currently 1.7 days.

Bitcoin Depot Stock Up 2.9 %

Shares of NASDAQ:BTM traded up $0.04 during mid-day trading on Friday, hitting $1.41. 98,392 shares of the company traded hands, compared to its average volume of 424,930. The firm has a market cap of $90.15 million, a P/E ratio of -1.52 and a beta of -0.26. Bitcoin Depot has a 52-week low of $0.93 and a 52-week high of $3.52. The firm’s 50 day simple moving average is $1.32 and its 200 day simple moving average is $1.57. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91.

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

Analyst Ratings Changes

BTM has been the topic of several research reports. B. Riley restated a “buy” rating and issued a $4.70 price target (up previously from $4.50) on shares of Bitcoin Depot in a report on Wednesday, March 19th. HC Wainwright reissued a “buy” rating and issued a $4.00 target price on shares of Bitcoin Depot in a research note on Tuesday, March 18th.

View Our Latest Stock Analysis on BTM

Insiders Place Their Bets

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,476 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $1.33, for a total transaction of $27,233.08. Following the completion of the sale, the chief operating officer now directly owns 169,276 shares in the company, valued at $225,137.08. This represents a 10.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 55,000 shares of company stock valued at $77,348 over the last quarter. Company insiders own 70.23% of the company’s stock.

Hedge Funds Weigh In On Bitcoin Depot

Institutional investors have recently made changes to their positions in the business. Welch Capital Partners LLC NY increased its stake in shares of Bitcoin Depot by 480.1% in the fourth quarter. Welch Capital Partners LLC NY now owns 522,073 shares of the company’s stock worth $846,000 after buying an additional 432,073 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Bitcoin Depot during the 4th quarter worth $267,000. Two Sigma Investments LP bought a new stake in shares of Bitcoin Depot in the 4th quarter worth about $427,000. Blue Owl Capital Holdings LP increased its position in shares of Bitcoin Depot by 480.0% in the 4th 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. Finally, Radcliffe Capital Management L.P. lifted its position in shares of Bitcoin Depot by 134.3% during the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock worth $463,000 after purchasing an additional 163,854 shares during the last quarter. 9.18% of the stock is owned by institutional investors and hedge funds.

About Bitcoin Depot

(Get Free Report)

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.

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