Bitcoin Depot Inc. (NASDAQ:BTM – Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 401,400 shares, an increase of 6.7% from the August 15th total of 376,100 shares. Based on an average daily trading volume, of 107,300 shares, the days-to-cover ratio is currently 3.7 days. Approximately 4.6% of the shares of the stock are short sold.
Analysts Set New Price Targets
Separately, HC Wainwright reduced their target price on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Thursday, August 15th.
Get Our Latest Research Report on Bitcoin Depot
Insider Buying and Selling at Bitcoin Depot
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in BTM. Renaissance Technologies LLC increased its position in shares of Bitcoin Depot by 122.1% during the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after acquiring an additional 26,000 shares during the last quarter. Shaolin Capital Management LLC increased its position in shares of Bitcoin Depot by 7.6% during the first quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after acquiring an additional 49,600 shares during the last quarter. Privium Fund Management UK Ltd purchased a new stake in shares of Bitcoin Depot during the first quarter worth about $60,000. Owl Creek Asset Management L.P. purchased a new stake in shares of Bitcoin Depot during the fourth quarter worth about $68,000. Finally, Cohanzick Management LLC increased its holdings in Bitcoin Depot by 54.4% in the fourth quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock valued at $1,944,000 after buying an additional 212,000 shares during the last quarter. 9.18% of the stock is owned by hedge funds and other institutional investors.
Bitcoin Depot Trading Up 0.7 %
Bitcoin Depot stock traded up $0.01 during midday trading on Wednesday, reaching $1.53. The stock had a trading volume of 27,838 shares, compared to its average volume of 216,777. Bitcoin Depot has a twelve month low of $1.33 and a twelve month high of $3.70. The stock has a market capitalization of $91.21 million, a PE ratio of -0.82 and a beta of -0.34. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50-day simple moving average is $1.64 and its 200 day simple moving average is $1.84.
Bitcoin Depot (NASDAQ:BTM – Get Free Report) last issued its earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $163.07 million during the quarter, compared to analyst estimates of $148.49 million. Analysts expect that Bitcoin Depot will post -0.09 EPS for the current year.
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.
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