Short Interest in Bitcoin Depot Inc. (NASDAQ:BTM) Decreases By 12.7%

Bitcoin Depot Inc. (NASDAQ:BTM) saw a large decrease in short interest in 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 company’s stock are short sold. Based on an average daily volume of 98,000 shares, the days-to-cover ratio is currently 2.8 days.

Analysts Set New Price Targets

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

Insider Transactions at Bitcoin Depot

In other news, major shareholder Andrew Mitchell Paul purchased 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, with a total value of $29,909.88. Following the purchase, the insider now owns 19,422 shares in the company, valued at $29,909.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Bitcoin Depot news, major shareholder Andrew Mitchell Paul purchased 19,422 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $1.54 per share, for a total transaction of $29,909.88. Following the purchase, the insider now owns 19,422 shares of the company’s stock, valued at $29,909.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot 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 owns 241,276 shares of the company’s stock, valued at $376,390.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 155,786 shares of company stock valued at $257,817 and have sold 70,100 shares valued at $109,637. Insiders own 20.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Shaolin Capital Management LLC boosted its stake in 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 acquiring an additional 49,600 shares during the last quarter. Privium Fund Management UK Ltd bought a new stake in shares of Bitcoin Depot in the 1st quarter worth approximately $60,000. Finally, Renaissance Technologies LLC lifted its stake in Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after purchasing an additional 26,000 shares during the last quarter. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Stock Down 1.3 %

Shares of BTM traded down $0.02 during trading hours on Tuesday, reaching $1.50. 63,845 shares of the stock traded hands, compared to its average volume of 201,458. Bitcoin Depot has a 52 week low of $1.33 and a 52 week high of $3.70. The company has a market cap of $89.42 million, a price-to-earnings ratio of -0.80 and a beta of -0.35. The stock has a fifty day simple moving average of $1.59 and a 200 day simple moving average of $1.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 9.33.

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