Bitcoin Depot Inc. (NASDAQ:BTM) Sees Significant Growth in Short Interest

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 676,500 shares, an increase of 25.9% from the January 31st total of 537,400 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average daily volume of 425,100 shares, the days-to-cover ratio is presently 1.6 days.

Bitcoin Depot Stock Performance

Shares of NASDAQ BTM traded up $0.02 during mid-day trading on Friday, hitting $1.30. The company had a trading volume of 152,827 shares, compared to its average volume of 331,528. The company has a market capitalization of $78.51 million, a price-to-earnings ratio of -1.40 and a beta of 0.10. Bitcoin Depot has a 1 year low of $0.93 and a 1 year high of $3.52. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 9.33. The stock's 50-day moving average price is $1.48 and its 200-day moving average price is $1.62.

Hedge Funds Weigh In On Bitcoin Depot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTM. Blue Owl Capital Holdings LP grew its position in Bitcoin Depot by 480.0% during the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company's stock worth $29,000 after buying an additional 15,000 shares in the last quarter. Walleye Capital LLC grew its position in Bitcoin Depot by 110.1% during the third quarter. Walleye Capital LLC now owns 23,542 shares of the company's stock worth $37,000 after buying an additional 12,337 shares in the last quarter. Renaissance Technologies LLC grew its position in Bitcoin Depot by 96.4% during the fourth quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock worth $237,000 after buying an additional 71,700 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Bitcoin Depot during the fourth quarter worth about $267,000. Finally, 272 Capital LP purchased a new position in Bitcoin Depot during the third quarter worth about $401,000. 9.18% of the stock is currently owned by hedge funds and other institutional investors.

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Bitcoin Depot Company Profile

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.