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

Bitcoin Depot Inc. (NASDAQ:BTM) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 676,500 shares, a growth of 25.9% from the January 31st total of 537,400 shares. Based on an average daily volume of 425,100 shares, the days-to-cover ratio is currently 1.6 days. Approximately 4.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Welch Capital Partners LLC NY lifted its holdings in shares of Bitcoin Depot by 480.1% in the 4th quarter. Welch Capital Partners LLC NY now owns 522,073 shares of the company’s stock worth $846,000 after acquiring an additional 432,073 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Bitcoin Depot in the fourth quarter valued at $267,000. Two Sigma Investments LP purchased a new stake in shares of Bitcoin Depot in the 4th quarter valued at $427,000. Blue Owl Capital Holdings LP lifted its stake in Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Radcliffe Capital Management L.P. boosted its holdings in Bitcoin Depot by 134.3% during the 4th quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock valued at $463,000 after acquiring an additional 163,854 shares during the period. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Trading Up 0.4 %

Shares of Bitcoin Depot stock traded up $0.01 during trading hours on Wednesday, hitting $1.23. The company’s stock had a trading volume of 37,439 shares, compared to its average volume of 327,869. The firm has a fifty day moving average of $1.50 and a 200-day moving average of $1.63. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $73.98 million and a price-to-earnings ratio of -1.32. Bitcoin Depot has a twelve month low of $0.93 and a twelve month high of $3.52.

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.