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

Bitcoin Depot Inc. (NASDAQ:BTM) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 294,900 shares, a growth of 6.9% from the September 30th total of 275,900 shares. Based on an average daily volume of 79,000 shares, the short-interest ratio is currently 3.7 days. Currently, 5.1% of the shares of the company are short sold.

Insiders Place Their Bets

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total value of $31,200.00. Following the transaction, the chief operating officer now directly owns 241,276 shares in the company, valued at approximately $376,390.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Christopher Scott Buchanan sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total transaction of $31,200.00. Following the transaction, the chief operating officer now directly owns 241,276 shares in the company, valued at $376,390.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Andrew Mitchell Paul acquired 19,422 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $1.54 per share, for a total transaction of $29,909.88. Following the acquisition, the insider now directly owns 19,422 shares of the company’s stock, valued at $29,909.88. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 155,786 shares of company stock valued at $257,817 and have sold 70,100 shares valued at $109,637. 20.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bitcoin Depot

A hedge fund recently raised its stake in Bitcoin Depot stock. Renaissance Technologies LLC grew its stake in shares of Bitcoin Depot Inc. (NASDAQ:BTM) by 122.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,300 shares of the company’s stock after buying an additional 26,000 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of Bitcoin Depot worth $85,000 as of its most recent filing with the Securities and Exchange Commission. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on BTM. Noble Financial upgraded Bitcoin Depot to a “strong-buy” rating in a report on Thursday, October 17th. HC Wainwright cut their price objective on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Bitcoin Depot Stock Down 1.3 %

BTM traded down $0.02 on Wednesday, reaching $1.54. The company’s stock had a trading volume of 129,771 shares, compared to its average volume of 197,440. Bitcoin Depot has a 1 year low of $1.33 and a 1 year high of $3.70. The business’s 50 day moving average is $1.56 and its 200 day moving average is $1.71. The company has a debt-to-equity ratio of 9.33, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $91.81 million, a price-to-earnings ratio of -0.81 and a beta of -0.35.

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

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.