Bitcoin Depot Inc. (NASDAQ:BTM) Sees Large Increase in Short Interest

Bitcoin Depot Inc. (NASDAQ:BTM) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 436,900 shares, a growth of 27.7% from the March 31st total of 342,200 shares. Based on an average trading volume of 250,600 shares, the short-interest ratio is currently 1.7 days. Approximately 11.5% of the shares of the company are sold short.

Analyst Ratings Changes

BTM has been the topic of a number of analyst reports. HC Wainwright decreased their price objective on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. B. Riley decreased their price objective on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th.

Bitcoin Depot Trading Up 0.6 %

Shares of BTM stock opened at $1.81 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.13. The company’s fifty day moving average price is $2.14 and its two-hundred day moving average price is $2.34. Bitcoin Depot has a 12 month low of $1.36 and a 12 month high of $10.86.

Bitcoin Depot (NASDAQ:BTM) last released its quarterly earnings results on Monday, April 15th. The company reported ($0.50) earnings per share for the quarter. The firm had revenue of $148.41 million for the quarter. On average, research analysts anticipate that Bitcoin Depot will post 0.23 earnings per share for the current fiscal year.

Insider Transactions at Bitcoin Depot

In related news, insider Brandon Taylor Mintz sold 2,906,976 shares of Bitcoin Depot stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $1.72, for a total value of $4,999,998.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Brandon Taylor Mintz sold 2,906,976 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $1.72, for a total transaction of $4,999,998.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Christopher Scott Buchanan sold 14,512 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the transaction, the chief operating officer now directly owns 338,741 shares of the company’s stock, valued at $840,077.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,034,353 shares of company stock worth $5,247,590. Company insiders own 20.09% of the company’s stock.

Institutional Investors Weigh In On Bitcoin Depot

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cowen AND Company LLC bought a new position in Bitcoin Depot in the third quarter worth about $35,000. Owl Creek Asset Management L.P. acquired a new stake in shares of Bitcoin Depot during the 4th quarter worth approximately $68,000. Privium Fund Management UK Ltd bought a new stake in shares of Bitcoin Depot in the 1st quarter worth approximately $60,000. Saba Capital Management L.P. acquired a new position in Bitcoin Depot during the 3rd quarter valued at approximately $305,000. Finally, Kepos Capital LP bought a new position in Bitcoin Depot during the 3rd quarter worth $368,000. 9.18% of the stock is owned by institutional investors and hedge funds.

About Bitcoin Depot

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.