Short Interest in Bitcoin Depot Inc. (NASDAQ:BTM) Rises By 13.1%

Bitcoin Depot Inc. (NASDAQ:BTM) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 574,800 shares, an increase of 13.1% from the December 15th total of 508,400 shares. Approximately 9.0% of the company’s shares are short sold. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is currently 0.5 days.

Bitcoin Depot Price Performance

NASDAQ:BTM traded up $0.15 during mid-day trading on Friday, hitting $1.79. 1,219,698 shares of the company’s stock were exchanged, compared to its average volume of 348,309. 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 fifty day moving average price of $1.84 and a 200 day moving average price of $1.68. Bitcoin Depot has a one year low of $1.33 and a one year high of $3.52.

Institutional Trading of Bitcoin Depot

A number of institutional investors and hedge funds have recently bought and sold shares of the company. 272 Capital LP purchased a new position in shares of Bitcoin Depot in the third quarter worth $401,000. Renaissance Technologies LLC raised its position in Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after buying an additional 26,000 shares during the last quarter. Finally, Walleye Capital LLC lifted its stake in Bitcoin Depot by 110.1% during the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after acquiring an additional 12,337 shares during the period. 9.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Noble Financial upgraded shares of Bitcoin Depot to a “strong-buy” rating in a research report on Thursday, October 17th.

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.