Short Interest in Bitcoin Depot Inc. (NASDAQ:BTM) Declines By 46.3%

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 293,100 shares, a decrease of 46.3% from the March 31st total of 546,000 shares. Based on an average trading volume of 279,900 shares, the short-interest ratio is currently 1.0 days. Approximately 2.0% of the company's stock are short sold.

Insider Buying and Selling at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,476 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $1.33, for a total transaction of $27,233.08. Following the transaction, the chief operating officer now owns 169,276 shares of the company's stock, valued at $225,137.08. This trade represents a 10.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 55,000 shares of company stock worth $77,348 in the last ninety days. 70.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Bitcoin Depot

Several large investors have recently made changes to their positions in the company. Blue Owl Capital Holdings LP boosted its position in shares of Bitcoin Depot by 480.0% during the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company's stock worth $29,000 after buying an additional 15,000 shares during the period. Verdence Capital Advisors LLC bought a new position in shares of Bitcoin Depot in the first quarter worth $73,000. Renaissance Technologies LLC increased its holdings in shares of Bitcoin Depot by 96.4% during the fourth quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock valued at $237,000 after purchasing an additional 71,700 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Bitcoin Depot during the fourth quarter valued at about $267,000. Finally, 272 Capital LP acquired a new stake in Bitcoin Depot in the third quarter worth about $401,000. Institutional investors and hedge funds own 9.18% of the company's stock.

Bitcoin Depot Stock Performance

NASDAQ:BTM traded up $0.02 during midday trading on Friday, reaching $1.51. 110,820 shares of the company traded hands, compared to its average volume of 424,425. The firm has a market capitalization of $96.55 million, a price-to-earnings ratio of -1.62 and a beta of -0.27. The company has a fifty day moving average price of $1.34 and a 200 day moving average price of $1.57. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91. Bitcoin Depot has a twelve month low of $0.93 and a twelve month high of $3.52.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.25). The firm had revenue of $136.83 million for the quarter, compared to the consensus estimate of $131.50 million. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 2.28%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. B. Riley restated a "buy" rating and set a $4.70 price objective (up from $4.50) on shares of Bitcoin Depot in a research note on Wednesday, March 19th. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 price target on shares of Bitcoin Depot in a report on Tuesday, March 18th.

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.