Crossingbridge Advisors LLC Sells 372,000 Shares of Bitcoin Depot Inc. (NASDAQ:BTM)

Crossingbridge Advisors LLC decreased its position in Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) by 61.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 230,000 shares of the company's stock after selling 372,000 shares during the quarter. Crossingbridge Advisors LLC owned 0.38% of Bitcoin Depot worth $373,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. 272 Capital LP bought a new position in shares of Bitcoin Depot during the third quarter worth about $401,000. Radcliffe Capital Management L.P. raised its stake in shares of Bitcoin Depot by 134.3% in the 4th quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company's stock worth $463,000 after buying an additional 163,854 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Bitcoin Depot by 96.4% in the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock valued at $237,000 after acquiring an additional 71,700 shares during the last quarter. Finally, Blue Owl Capital Holdings LP boosted its holdings 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. 9.18% of the stock is currently owned by institutional investors.

Insider Transactions at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,476 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $1.33, for a total value of $27,233.08. Following the transaction, the chief operating officer now directly owns 169,276 shares in the company, valued at $225,137.08. The trade was a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 55,000 shares of company stock worth $77,348. Insiders own 70.23% of the company's stock.

Bitcoin Depot Stock Down 0.6 %

Shares of BTM traded down $0.01 during mid-day trading on Tuesday, reaching $1.55. The company's stock had a trading volume of 20,079 shares, compared to its average volume of 423,735. Bitcoin Depot Inc. has a 1 year low of $0.93 and a 1 year high of $3.52. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33. The company has a market cap of $99.11 million, a price-to-earnings ratio of -1.67 and a beta of -0.26. The business has a fifty day moving average of $1.33 and a 200 day moving average of $1.57.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last posted its earnings results on Monday, March 24th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.25). The company had revenue of $136.83 million during the quarter, compared to analyst estimates of $131.50 million. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 2.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BTM shares. B. Riley reaffirmed a "buy" rating and set a $4.70 target price (up from $4.50) on shares of Bitcoin Depot in a research report on Wednesday, March 19th. HC Wainwright restated a "buy" rating and set a $4.00 price objective on shares of Bitcoin Depot in a report on Tuesday, March 18th.

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.