Bitcoin Depot Inc. (NASDAQ:BTM) Short Interest Down 18.3% in March

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 546,000 shares, a decline of 18.3% from the March 15th total of 668,300 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average trading volume of 323,900 shares, the short-interest ratio is currently 1.7 days.

Bitcoin Depot Trading Up 8.3 %

NASDAQ:BTM traded up $0.12 during mid-day trading on Friday, hitting $1.57. The company had a trading volume of 328,667 shares, compared to its average volume of 422,825. The firm has a market cap of $100.38 million, a P/E ratio of -1.69 and a beta of -0.26. Bitcoin Depot has a fifty-two week low of $0.93 and a fifty-two week high of $3.52. The business's fifty day moving average is $1.31 and its two-hundred day moving average is $1.56. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last released its quarterly earnings data on Monday, March 24th. The company reported ($0.21) earnings per share 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%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued 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 issued a $4.70 price objective (up from $4.50) on shares of Bitcoin Depot in a report on Wednesday, March 19th.

Insiders Place Their Bets

In other news, COO Christopher Scott Buchanan sold 20,476 shares of the company's stock in a transaction 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 represents a 10.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 55,000 shares of company stock valued at $77,348. Insiders own 70.23% of the company's stock.

Institutional Trading of Bitcoin Depot

Several hedge funds have recently added to or reduced their stakes in BTM. Welch Capital Partners LLC NY grew its stake in Bitcoin Depot by 480.1% in the fourth quarter. Welch Capital Partners LLC NY now owns 522,073 shares of the company's stock valued at $846,000 after acquiring an additional 432,073 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Bitcoin Depot in the 4th quarter valued at approximately $267,000. Two Sigma Investments LP acquired a new position in shares of Bitcoin Depot in the 4th quarter valued at approximately $427,000. Blue Owl Capital Holdings LP increased 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 purchasing an additional 15,000 shares in the last quarter. Finally, Radcliffe Capital Management L.P. raised 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 worth $463,000 after buying an additional 163,854 shares during the period. Institutional investors and hedge funds own 9.18% of the company's stock.

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.