Bitcoin Depot Inc. (NASDAQ:BTM) Short Interest Up 13.1% in December

Bitcoin Depot Inc. (NASDAQ:BTM) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 574,800 shares, a growth of 13.1% from the December 15th total of 508,400 shares. Currently, 9.0% of the shares of the company are short sold. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Bitcoin Depot

A number of large investors have recently made changes to their positions in the company. 272 Capital LP purchased a new position in shares of Bitcoin Depot during the third quarter worth approximately $401,000. Renaissance Technologies LLC boosted its holdings in shares of Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after buying an additional 26,000 shares in the last quarter. Finally, Walleye Capital LLC boosted its stake in Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after acquiring an additional 12,337 shares in the last quarter. 9.18% of the stock is owned by hedge funds and other institutional investors.

Bitcoin Depot Trading Up 9.1 %

Shares of Bitcoin Depot stock traded up $0.15 on Friday, reaching $1.79. The company had a trading volume of 1,219,698 shares, compared to its average volume of 348,309. Bitcoin Depot has a 1 year low of $1.33 and a 1 year high of $3.52. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91. The firm’s 50-day moving average price is $1.84 and its two-hundred day moving average price is $1.68.

Wall Street Analysts Forecast Growth

Separately, Noble Financial raised shares of Bitcoin Depot to a “strong-buy” rating in a report on Thursday, October 17th.

About Bitcoin Depot

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.