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

Bitcoin Depot Inc. (NASDAQ:BTM) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totalling 342,200 shares, a decrease of 9.2% from the March 15th total of 376,900 shares. Based on an average daily trading volume, of 372,400 shares, the short-interest ratio is presently 0.9 days. Currently, 10.5% of the company’s shares are sold short.

Insiders Place Their Bets

In other Bitcoin Depot news, insider Brandon Taylor Mintz sold 50,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $1.73, for a total transaction of $86,500.00. Following the transaction, the insider now directly owns 696,702 shares in the company, valued at approximately $1,205,294.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Brandon Taylor Mintz sold 50,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $1.73, for a total value of $86,500.00. Following the transaction, the insider now directly owns 696,702 shares in the company, valued at approximately $1,205,294.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Christopher Scott Buchanan sold 14,512 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the transaction, the chief operating officer now owns 338,741 shares in the company, valued at $840,077.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,377 shares of company stock worth $247,591. Corporate insiders own 20.09% of the company’s stock.

Hedge Funds Weigh In On Bitcoin Depot

Large investors have recently bought and sold shares of the stock. Cowen AND Company LLC purchased a new stake in shares of Bitcoin Depot during the third quarter valued at $35,000. Wellington Management Group LLP purchased a new position in Bitcoin Depot in the fourth quarter worth about $35,000. Vanguard Group Inc. purchased a new position in Bitcoin Depot in the third quarter worth about $45,000. Northern Trust Corp purchased a new position in Bitcoin Depot in the fourth quarter worth about $61,000. Finally, Owl Creek Asset Management L.P. purchased a new position in Bitcoin Depot in the fourth quarter worth about $68,000. 9.18% of the stock is owned by hedge funds and other institutional investors.

Bitcoin Depot Price Performance

NASDAQ:BTM traded up $0.18 during mid-day trading on Tuesday, reaching $1.61. The stock had a trading volume of 269,281 shares, compared to its average volume of 373,280. The firm has a 50 day moving average price of $2.22 and a two-hundred day moving average price of $2.38. Bitcoin Depot has a one year low of $1.36 and a one year high of $10.93. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.72 and a current ratio of 0.72.

Analyst Ratings Changes

Several brokerages have recently issued reports on BTM. HC Wainwright decreased their target price on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. B. Riley decreased their target price on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Finally, Northland Securities began coverage on Bitcoin Depot in a research report on Wednesday, December 20th. They set a “market perform” rating and a $3.50 target price for the company.

Bitcoin Depot Company Profile

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.