Short Interest in Bitcoin Depot Inc. (NASDAQ:BTM) Drops By 21.3%

Bitcoin Depot Inc. (NASDAQ:BTM) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 315,900 shares, a decrease of 21.3% from the August 31st total of 401,400 shares. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 102,800 shares, the days-to-cover ratio is currently 3.1 days.

Insider Buying and Selling at Bitcoin Depot

In other news, insider Brandon Taylor Mintz sold 17,454 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1.79, for a total value of $31,242.66. Following the transaction, the insider now owns 529,248 shares of the company’s stock, valued at approximately $947,353.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Bitcoin Depot news, insider Brandon Taylor Mintz sold 17,454 shares of Bitcoin Depot stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1.79, for a total transaction of $31,242.66. Following the completion of the sale, the insider now owns 529,248 shares of the company’s stock, valued at $947,353.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Andrew Mitchell Paul acquired 19,422 shares of Bitcoin Depot stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $1.54 per share, for a total transaction of $29,909.88. Following the completion of the transaction, the insider now directly owns 19,422 shares in the company, valued at approximately $29,909.88. The disclosure for this purchase can be found here. In the last three months, insiders bought 155,786 shares of company stock valued at $257,817 and sold 90,152 shares valued at $148,627. Insiders own 20.09% of the company’s stock.

Institutional Investors Weigh In On Bitcoin Depot

Hedge funds and other institutional investors have recently modified their holdings of the stock. Privium Fund Management UK Ltd purchased a new stake in Bitcoin Depot in the 1st quarter worth approximately $60,000. Owl Creek Asset Management L.P. purchased a new stake in shares of Bitcoin Depot in the fourth quarter worth $68,000. Renaissance Technologies LLC increased 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 worth $85,000 after purchasing an additional 26,000 shares in the last quarter. Shaolin Capital Management LLC raised its position in shares of Bitcoin Depot by 7.6% during the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after purchasing an additional 49,600 shares during the period. Finally, Cohanzick Management LLC lifted its stake in shares of Bitcoin Depot by 54.4% during the 4th quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock valued at $1,944,000 after buying an additional 212,000 shares in the last quarter. 9.18% of the stock is currently owned by hedge funds and other institutional investors.

Bitcoin Depot Stock Down 2.5 %

Shares of NASDAQ BTM traded down $0.04 on Friday, reaching $1.59. 72,301 shares of the company’s stock traded hands, compared to its average volume of 211,177. Bitcoin Depot has a 12 month low of $1.33 and a 12 month high of $3.70. The company has a market cap of $94.79 million, a price-to-earnings ratio of -0.85 and a beta of -0.34. The business’s 50 day simple moving average is $1.63 and its two-hundred day simple moving average is $1.79. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 9.33.

Bitcoin Depot (NASDAQ:BTM) last issued its earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The business had revenue of $163.07 million during the quarter, compared to analysts’ expectations of $148.49 million. Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%. As a group, equities research analysts forecast that Bitcoin Depot will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright dropped their price target on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Thursday, August 15th.

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.