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

Bitcoin Depot Inc. (NASDAQ:BTM) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 275,900 shares, a decrease of 12.7% from the September 15th total of 315,900 shares. Approximately 4.8% of the shares of the company are sold short. Based on an average trading volume of 98,000 shares, the days-to-cover ratio is presently 2.8 days.

Bitcoin Depot Stock Performance

Shares of BTM traded up $0.03 during mid-day trading on Wednesday, reaching $1.53. 99,220 shares of the company’s stock traded hands, compared to its average volume of 200,957. The business’s 50-day moving average price is $1.59 and its 200-day moving average price is $1.72. Bitcoin Depot has a 12 month low of $1.33 and a 12 month high of $3.70. The stock has a market capitalization of $91.21 million, a P/E ratio of -0.82 and a beta of -0.35. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16.

Bitcoin Depot (NASDAQ:BTM) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). The company had revenue of $163.07 million for the quarter, compared to analysts’ expectations of $148.49 million. Bitcoin Depot had a negative net margin of 3.10% and a negative return on equity of 307.37%. Equities analysts predict that Bitcoin Depot will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

Separately, HC Wainwright decreased their price target on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Thursday, August 15th.

Insider Activity

In other Bitcoin Depot news, major shareholder Andrew Mitchell Paul bought 97,804 shares of Bitcoin Depot stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $1.66 per share, with a total value of $162,354.64. Following the completion of the acquisition, the insider now owns 117,146 shares of the company’s stock, valued at approximately $194,462.36. This represents a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total value of $31,200.00. Following the completion of the sale, the chief operating officer now owns 241,276 shares in the company, valued at approximately $376,390.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Andrew Mitchell Paul acquired 97,804 shares of Bitcoin Depot stock in a transaction on Friday, August 9th. The shares were bought at an average price of $1.66 per share, for a total transaction of $162,354.64. Following the completion of the purchase, the insider now directly owns 117,146 shares in the company, valued at $194,462.36. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 155,786 shares of company stock valued at $257,817 and sold 70,100 shares valued at $109,637. Corporate insiders own 20.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Shaolin Capital Management LLC lifted its stake in shares of Bitcoin Depot by 7.6% in the first quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after buying an additional 49,600 shares during the period. Privium Fund Management UK Ltd acquired a new position in Bitcoin Depot in the 1st quarter valued at approximately $60,000. Finally, Renaissance Technologies LLC raised its holdings in Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after acquiring an additional 26,000 shares in the last quarter. 9.18% of the stock is owned by institutional investors.

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.