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

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 294,900 shares, an increase of 6.9% from the September 30th total of 275,900 shares. Currently, 5.1% of the company's shares are sold short. Based on an average trading volume of 79,000 shares, the short-interest ratio is presently 3.7 days.

Bitcoin Depot Stock Performance

NASDAQ BTM traded down $0.05 on Wednesday, hitting $1.51. 170,607 shares of the stock traded hands, compared to its average volume of 197,635. Bitcoin Depot has a 12 month low of $1.33 and a 12 month high of $3.70. The business's fifty day moving average is $1.56 and its two-hundred day moving average is $1.71. The firm has a market capitalization of $90.02 million, a price-to-earnings ratio of -0.81 and a beta of -0.35. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share 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 the consensus estimate of $148.49 million. As a group, equities analysts anticipate that Bitcoin Depot will post -0.09 EPS for the current fiscal year.

Insider Activity at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total transaction of $31,200.00. Following the transaction, the chief operating officer now owns 241,276 shares in the company, valued at $376,390.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Bitcoin Depot news, major shareholder Andrew Mitchell Paul purchased 19,422 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $1.54 per share, with a total value of $29,909.88. Following the completion of the transaction, the insider now directly owns 19,422 shares in the company, valued at $29,909.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher Scott Buchanan sold 20,000 shares of the firm's stock in a transaction 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 sale, the chief operating officer now directly owns 241,276 shares of the company's stock, valued at $376,390.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 155,786 shares of company stock worth $257,817 and have sold 70,100 shares worth $109,637. 20.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bitcoin Depot

A hedge fund recently raised its stake in Bitcoin Depot stock. Shaolin Capital Management LLC raised its stake in shares of Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 699,600 shares of the company's stock after buying an additional 49,600 shares during the quarter. Shaolin Capital Management LLC owned about 1.17% of Bitcoin Depot worth $1,326,000 at the end of the most recent quarter. 9.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BTM has been the subject of a number of recent analyst reports. Noble Financial upgraded Bitcoin Depot to a "strong-buy" rating in a research report on Thursday, October 17th. HC Wainwright lowered their price objective on Bitcoin Depot from $4.00 to $3.50 and set a "buy" rating for the company in a research note on Thursday, August 15th.

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.