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

Bitcoin Depot Inc. (NASDAQ:BTM) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 275,900 shares, a drop of 12.7% from the September 15th total of 315,900 shares. Based on an average trading volume of 98,000 shares, the short-interest ratio is currently 2.8 days. Approximately 4.8% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, major shareholder Andrew Mitchell Paul purchased 19,422 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $1.54 per share, for a total transaction of $29,909.88. Following the completion of the transaction, the insider now owns 19,422 shares of the company’s stock, valued at approximately $29,909.88. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total transaction of $31,200.00. Following the completion of the sale, the chief operating officer now directly owns 241,276 shares in the company, valued at $376,390.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Andrew Mitchell Paul purchased 19,422 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $29,909.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 155,786 shares of company stock worth $257,817 and have sold 70,100 shares worth $109,637. Corporate insiders own 20.09% of the company’s stock.

Institutional Investors Weigh In On Bitcoin Depot

A number of institutional investors have recently added to or reduced their stakes in the business. Privium Fund Management UK Ltd bought a new stake in shares of Bitcoin Depot in the 1st quarter valued at about $60,000. Renaissance Technologies LLC boosted its position in 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 acquiring an additional 26,000 shares during the last quarter. Finally, Shaolin Capital Management LLC raised its position in shares of Bitcoin Depot by 7.6% in the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after acquiring an additional 49,600 shares in the last quarter. 9.18% of the stock is owned by institutional investors.

Bitcoin Depot Price Performance

Shares of BTM traded down $0.02 during trading hours on Tuesday, reaching $1.50. The stock had a trading volume of 63,845 shares, compared to its average volume of 201,458. The stock has a market capitalization of $89.42 million, a PE ratio of -0.80 and a beta of -0.35. Bitcoin Depot has a 12 month low of $1.33 and a 12 month high of $3.70. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16. The company’s 50-day moving average is $1.59 and its two-hundred day moving average is $1.73.

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

Analyst Upgrades and Downgrades

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

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.