Bitcoin Depot Inc. (NASDAQ:BTM) Short Interest Up 13.1% in December

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Bitcoin Depot

Several large investors have recently bought and sold shares of BTM. Walleye Capital LLC raised its stake in shares of Bitcoin Depot by 110.1% in the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after buying an additional 12,337 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 buying an additional 26,000 shares in the last quarter. Finally, 272 Capital LP acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at $401,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Bitcoin Depot Stock Up 9.1 %

NASDAQ:BTM opened at $1.79 on Monday. Bitcoin Depot has a one year low of $1.33 and a one year high of $3.52. The company has a fifty day moving average price of $1.84 and a 200 day moving average price of $1.68. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 9.33.

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.