Bitcoin Depot Inc. (NASDAQ:BTM) Position Trimmed by Sea Otter Advisors LLC

Sea Otter Advisors LLC reduced its position in shares of Bitcoin Depot Inc. (NASDAQ:BTM) by 9.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 230,642 shares of the company’s stock after selling 24,544 shares during the period. Bitcoin Depot comprises 3.0% of Sea Otter Advisors LLC’s portfolio, making the stock its 8th biggest holding. Sea Otter Advisors LLC’s holdings in Bitcoin Depot were worth $415,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Shaolin Capital Management LLC boosted its stake in Bitcoin Depot by 7.6% during the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after purchasing an additional 49,600 shares during the last quarter. Cohanzick Management LLC grew its stake in Bitcoin Depot by 54.4% during the 4th quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock valued at $1,944,000 after acquiring an additional 212,000 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after purchasing an additional 26,000 shares in the last quarter. Privium Fund Management UK Ltd purchased a new stake in shares of Bitcoin Depot in the first quarter valued at approximately $60,000. Finally, Owl Creek Asset Management L.P. acquired a new stake in shares of Bitcoin Depot in the 4th quarter worth $68,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright cut their target price 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.

Insider Activity

In related news, major shareholder Andrew Mitchell Paul bought 38,560 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $1.70 per share, with a total value of $65,552.00. Following the completion of the acquisition, the insider now owns 155,786 shares in the company, valued at approximately $264,836.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Bitcoin Depot news, insider Brandon Taylor Mintz sold 17,454 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1.79, for a total value of $31,242.66. Following the sale, the insider now owns 529,248 shares of the company’s stock, valued at $947,353.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Andrew Mitchell Paul acquired 38,560 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $1.70 per share, with a total value of $65,552.00. Following the completion of the purchase, the insider now owns 155,786 shares in the company, valued at $264,836.20. The disclosure for this purchase can be found here. In the last three months, insiders bought 155,786 shares of company stock valued at $257,817 and sold 90,152 shares valued at $148,627. Company insiders own 20.09% of the company’s stock.

Bitcoin Depot Price Performance

BTM stock opened at $1.63 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 9.33. Bitcoin Depot Inc. has a 12-month low of $1.33 and a 12-month high of $3.70. The company has a market capitalization of $97.17 million, a PE ratio of -0.87 and a beta of -0.34. The business’s fifty day moving average price is $1.64 and its 200 day moving average price is $1.81.

Bitcoin Depot (NASDAQ:BTM) last posted its earnings results on Thursday, August 15th. The company reported ($0.13) EPS 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 business had revenue of $163.07 million during the quarter, compared to analysts’ expectations of $148.49 million. On average, sell-side analysts anticipate that Bitcoin Depot Inc. will post -0.09 EPS for the current year.

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.