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

Bitcoin Depot Inc. (NASDAQ:BTM) was the target of a large growth in short interest in 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. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 9.0% of the shares of the stock are sold short.

Bitcoin Depot Stock Up 9.1 %

Bitcoin Depot stock opened at $1.79 on Monday. The stock has a 50-day simple moving average of $1.84 and a 200 day simple moving average of $1.68. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33. Bitcoin Depot has a 12-month low of $1.33 and a 12-month high of $3.52.

Institutional Trading of Bitcoin Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after purchasing an additional 26,000 shares during the period. 272 Capital LP acquired a new stake in Bitcoin Depot in the third quarter worth about $401,000. Finally, Walleye Capital LLC increased its position in Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after purchasing an additional 12,337 shares during the period. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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.