Bitcoin Depot Inc. (NASDAQ:BTM) Short Interest Up 27.7% in April

Bitcoin Depot Inc. (NASDAQ:BTM) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 436,900 shares, an increase of 27.7% from the March 31st total of 342,200 shares. Approximately 11.5% of the company’s stock are short sold. Based on an average daily trading volume, of 250,600 shares, the short-interest ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BTM shares. HC Wainwright dropped their price objective on shares of Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. B. Riley lowered their price target on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th.

Bitcoin Depot Stock Performance

Shares of BTM opened at $1.81 on Tuesday. Bitcoin Depot has a 52-week low of $1.36 and a 52-week high of $10.86. The firm’s fifty day moving average is $2.14 and its two-hundred day moving average is $2.34. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.13.

Bitcoin Depot (NASDAQ:BTM) last posted its quarterly earnings results on Monday, April 15th. The company reported ($0.50) earnings per share for the quarter. The firm had revenue of $148.41 million for the quarter. Equities analysts predict that Bitcoin Depot will post 0.23 earnings per share for the current fiscal year.

Insider Transactions at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 14,512 shares of Bitcoin Depot stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total value of $35,989.76. Following the transaction, the chief operating officer now directly owns 338,741 shares of the company’s stock, valued at $840,077.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Christopher Scott Buchanan sold 14,512 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 directly owns 338,741 shares of the company’s stock, valued at approximately $840,077.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandon Taylor Mintz sold 50,000 shares of Bitcoin Depot 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 completion of the sale, the insider now owns 696,702 shares of the company’s stock, valued at $1,205,294.46. The disclosure for this sale can be found here. Insiders have sold a total of 3,034,353 shares of company stock valued at $5,247,590 in the last 90 days. Insiders own 20.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cowen AND Company LLC purchased a new position in Bitcoin Depot in the third quarter valued at $35,000. Owl Creek Asset Management L.P. acquired a new position in shares of Bitcoin Depot during the fourth quarter worth about $68,000. Privium Fund Management UK Ltd acquired a new position in shares of Bitcoin Depot during the first quarter worth about $60,000. Saba Capital Management L.P. purchased a new stake in shares of Bitcoin Depot during the third quarter worth approximately $305,000. Finally, Kepos Capital LP acquired a new stake in Bitcoin Depot in the third quarter valued at approximately $368,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

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.