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

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

Insider Buying and Selling

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 29,524 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $1.44, for a total value of $42,514.56. Following the completion of the sale, the chief operating officer now directly owns 189,752 shares of the company's stock, valued at $273,242.88. This trade represents a 13.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 55,000 shares of company stock worth $77,348. Insiders own 70.23% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Blue Owl Capital Holdings LP grew its position in 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 in the last quarter. Verdence Capital Advisors LLC bought a new stake in shares of Bitcoin Depot during the 1st quarter valued at about $73,000. Renaissance Technologies LLC grew 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 worth $237,000 after purchasing an additional 71,700 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Bitcoin Depot during the fourth quarter worth about $267,000. Finally, 272 Capital LP bought a new position in shares of Bitcoin Depot in the third quarter worth approximately $401,000. Institutional investors own 9.18% of the company's stock.

Bitcoin Depot Price Performance

BTM stock traded up $0.02 during mid-day trading on Friday, reaching $1.51. 110,820 shares of the company traded hands, compared to its average volume of 421,962. The company has a fifty day moving average price of $1.34 and a 200-day moving average price of $1.57. Bitcoin Depot has a 52-week low of $0.93 and a 52-week high of $3.52. The company has a market capitalization of $96.55 million, a P/E ratio of -1.62 and a beta of -0.26. 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 (NASDAQ:BTM - Get Free Report) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.25). Bitcoin Depot had a negative net margin of 2.28% and a negative return on equity of 488.33%. The firm had revenue of $136.83 million for the quarter, compared to analysts' expectations of $131.50 million.

Analyst Upgrades and Downgrades

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

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.