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

Bitcoin Depot Inc. (NASDAQ:BTM) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 3,107,807 shares, an increase of 50.8% from the January 29th total of 2,060,966 shares. Based on an average daily volume of 1,246,609 shares, the short-interest ratio is presently 2.5 days. Currently, 62.0% of the shares of the company are sold short. Currently, 62.0% of the shares of the company are sold short. Based on an average daily volume of 1,246,609 shares, the short-interest ratio is presently 2.5 days.

Bitcoin Depot Price Performance

Shares of NASDAQ:BTM traded up $0.37 on Monday, hitting $4.76. The company’s stock had a trading volume of 128,388 shares, compared to its average volume of 153,010. The company has a market capitalization of $49.56 million, a PE ratio of 2.95 and a beta of 0.87. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.88 and a quick ratio of 1.88. The company has a 50-day simple moving average of $7.73 and a 200 day simple moving average of $15.52. Bitcoin Depot has a 1 year low of $4.26 and a 1 year high of $48.16.

Hedge Funds Weigh In On Bitcoin Depot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Owl Creek Asset Management L.P. bought a new position in shares of Bitcoin Depot in the 4th quarter worth $1,935,000. Sabby Management LLC purchased a new position in Bitcoin Depot in the fourth quarter worth $1,292,000. Marshall Wace LLP purchased a new stake in Bitcoin Depot during the second quarter valued at about $4,097,000. Vanguard Group Inc. lifted its stake in Bitcoin Depot by 54.9% during the third quarter. Vanguard Group Inc. now owns 951,318 shares of the company’s stock worth $3,196,000 after purchasing an additional 337,070 shares during the last quarter. Finally, Welch Capital Partners LLC NY boosted its holdings in shares of Bitcoin Depot by 33.0% in the 2nd quarter. Welch Capital Partners LLC NY now owns 1,285,190 shares of the company’s stock worth $6,516,000 after purchasing an additional 318,940 shares in the last quarter. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Wall Street Analyst Weigh In

BTM has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Bitcoin Depot in a report on Wednesday, January 21st. B. Riley Financial lowered Bitcoin Depot from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Wall Street Zen cut Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Noble Financial restated an “outperform” rating on shares of Bitcoin Depot in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.83.

About Bitcoin Depot

Bitcoin Depot, Inc operates one of the largest networks of self-service cryptocurrency kiosks in North America, enabling customers to buy and sell Bitcoin and other digital assets using cash or debit cards. Through a partnership model with convenience stores, gas stations and retail outlets, the company provides an accessible on-ramp and off-ramp for individuals entering the cryptocurrency market without requiring a bank account or extensive technical knowledge. Transactions are completed in real time at the point of sale, with verification and receipt provided via email or mobile phone.

Founded in 2016 and headquartered in Atlanta, Georgia, Bitcoin Depot began as a privately held startup focused on expanding retail access to digital currencies.