Bitcoin Depot Inc. (NASDAQ:BTM) Sees Significant Growth in Short Interest

Bitcoin Depot Inc. (NASDAQ:BTM) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 574,800 shares, a growth of 13.1% from the December 31st total of 508,400 shares. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is presently 0.5 days. Approximately 9.0% of the company’s shares are short sold.

Bitcoin Depot Trading Down 2.5 %

Shares of NASDAQ BTM traded down $0.04 during mid-day trading on Monday, reaching $1.56. The company had a trading volume of 374,602 shares, compared to its average volume of 378,278. The stock has a market cap of $94.21 million and a price-to-earnings ratio of -1.68. Bitcoin Depot has a 52 week low of $1.33 and a 52 week high of $3.52. The business’s 50-day moving average is $1.74 and its 200-day moving average is $1.69. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 9.33.

Wall Street Analyst Weigh In

Separately, Noble Financial upgraded Bitcoin Depot to a “strong-buy” rating in a report on Thursday, October 17th.

Hedge Funds Weigh In On Bitcoin Depot

A number of hedge funds have recently added to or reduced their stakes in the stock. 272 Capital LP purchased a new stake in Bitcoin Depot in the third quarter worth about $401,000. Renaissance Technologies LLC raised its holdings in shares of Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in shares of Bitcoin Depot by 110.1% in the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after purchasing an additional 12,337 shares during the period. 9.18% of the stock is currently owned by institutional investors.

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.