Crossingbridge Advisors LLC decreased its stake in Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) by 61.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,000 shares of the company's stock after selling 372,000 shares during the period. Crossingbridge Advisors LLC owned approximately 0.38% of Bitcoin Depot worth $373,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Blue Owl Capital Holdings LP grew its stake 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 valued at $29,000 after acquiring an additional 15,000 shares in the last quarter. Radcliffe Capital Management L.P. boosted its holdings in Bitcoin Depot by 134.3% in the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company's stock valued at $463,000 after purchasing an additional 163,854 shares during the last quarter. 272 Capital LP acquired a new stake in Bitcoin Depot during the 3rd quarter valued at approximately $401,000. Finally, Renaissance Technologies LLC increased its holdings in Bitcoin Depot by 96.4% during the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock worth $237,000 after purchasing an additional 71,700 shares during the last quarter. Institutional investors and hedge funds own 9.18% of the company's stock.
Bitcoin Depot Stock Performance
NASDAQ BTM traded up $0.03 during trading hours on Thursday, reaching $1.54. The company's stock had a trading volume of 35,756 shares, compared to its average volume of 287,676. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 9.33. The business has a 50-day simple moving average of $1.33 and a 200 day simple moving average of $1.57. Bitcoin Depot Inc. has a 52 week low of $0.93 and a 52 week high of $3.52. The stock has a market cap of $98.15 million, a PE ratio of -1.65 and a beta of -0.26.
Bitcoin Depot (NASDAQ:BTM - Get Free Report) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.25). The company had revenue of $136.83 million during 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%.
Insider Activity
In related news, COO Christopher Scott Buchanan sold 29,524 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 189,752 shares of the company's stock, valued at $273,242.88. This represents a 13.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 55,000 shares of company stock valued at $77,348. 70.23% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have recently commented on BTM. HC Wainwright reiterated a "buy" rating and set a $4.00 target price on shares of Bitcoin Depot in a research note on Tuesday, March 18th. 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.
Check Out Our Latest Analysis on Bitcoin Depot
About Bitcoin Depot
(
Free Report)
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.
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