Bitcoin Depot Inc. (NASDAQ:BTM) Short Interest Down 21.3% in September

Bitcoin Depot Inc. (NASDAQ:BTM) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 315,900 shares, a drop of 21.3% from the August 31st total of 401,400 shares. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 102,800 shares, the days-to-cover ratio is currently 3.1 days.

Analysts Set New Price Targets

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

Insider Activity

In other Bitcoin Depot news, insider Brandon Taylor Mintz sold 17,454 shares of Bitcoin Depot stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1.79, for a total transaction of $31,242.66. Following the completion of the transaction, the insider now owns 529,248 shares in the company, valued at $947,353.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Brandon Taylor Mintz sold 17,454 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1.79, for a total value of $31,242.66. Following the completion of the transaction, the insider now directly owns 529,248 shares of the company’s stock, valued at $947,353.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Andrew Mitchell Paul acquired 97,804 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $1.66 per share, for a total transaction of $162,354.64. Following the purchase, the insider now owns 117,146 shares of the company’s stock, valued at $194,462.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 155,786 shares of company stock worth $257,817 and sold 90,152 shares worth $148,627. Company insiders own 20.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BTM. Cohanzick Management LLC grew its position in shares of Bitcoin Depot by 54.4% during the 4th quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock valued at $1,944,000 after buying an additional 212,000 shares during the last quarter. Owl Creek Asset Management L.P. bought a new position in shares of Bitcoin Depot during the fourth quarter valued at approximately $68,000. Renaissance Technologies LLC grew its holdings in shares of Bitcoin Depot by 122.1% during 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. Shaolin Capital Management LLC raised its position in shares of Bitcoin Depot by 7.6% during the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after purchasing an additional 49,600 shares during the period. Finally, Privium Fund Management UK Ltd bought a new stake in shares of Bitcoin Depot in the 1st quarter worth approximately $60,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

Bitcoin Depot Stock Down 2.5 %

Shares of NASDAQ BTM traded down $0.04 during trading on Friday, reaching $1.59. 72,301 shares of the stock were exchanged, compared to its average volume of 211,177. The company has a market capitalization of $94.79 million, a price-to-earnings ratio of -0.85 and a beta of -0.34. The business’s 50-day moving average price is $1.63 and its 200 day moving average price is $1.80. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 9.33. Bitcoin Depot has a twelve month low of $1.33 and a twelve month high of $3.70.

Bitcoin Depot (NASDAQ:BTM) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). The business had revenue of $163.07 million for 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%. As a group, equities 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.