Bitcoin Depot Inc. (NASDAQ:BTM) Short Interest Down 12.7% in September

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

Insider Transactions at Bitcoin Depot

In other Bitcoin Depot news, major shareholder Andrew Mitchell Paul purchased 97,804 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $1.66 per share, with a total value of $162,354.64. Following the acquisition, the insider now directly owns 117,146 shares of the company’s stock, valued at approximately $194,462.36. This represents a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total value of $31,200.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Andrew Mitchell Paul acquired 97,804 shares of Bitcoin Depot stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $1.66 per share, with a total value of $162,354.64. Following the transaction, the insider now directly owns 117,146 shares in the company, valued at approximately $194,462.36. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 155,786 shares of company stock valued at $257,817 and sold 70,100 shares valued at $109,637. Corporate insiders own 20.09% of the company’s stock.

Institutional Investors Weigh In On Bitcoin Depot

Several hedge funds have recently modified their holdings of BTM. Renaissance Technologies LLC raised its holdings in Bitcoin Depot by 122.1% during 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 in the last quarter. Shaolin Capital Management LLC boosted its holdings in Bitcoin Depot by 7.6% in the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after purchasing an additional 49,600 shares in the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in Bitcoin Depot during the 1st quarter worth approximately $60,000. 9.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Bitcoin Depot Stock Performance

Shares of NASDAQ:BTM traded up $0.03 on Wednesday, reaching $1.53. The company’s stock had a trading volume of 99,220 shares, compared to its average volume of 200,957. The company has a debt-to-equity ratio of 9.33, a current ratio of 1.16 and a quick ratio of 1.16. Bitcoin Depot has a 52-week low of $1.33 and a 52-week high of $3.70. The stock’s 50-day moving average is $1.59 and its two-hundred day moving average is $1.72. The stock has a market capitalization of $91.21 million, a P/E ratio of -0.82 and a beta of -0.35.

Bitcoin Depot (NASDAQ:BTM) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). Bitcoin Depot had a negative net margin of 3.10% and a negative return on equity of 307.37%. The company had revenue of $163.07 million for the quarter, compared to analysts’ expectations of $148.49 million. As a group, sell-side 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.