Bitcoin Depot Inc. (NASDAQ:BTM – Get Free Report) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 303,600 shares, a decrease of 7.7% from the April 30th total of 328,800 shares. Based on an average trading volume of 203,500 shares, the short-interest ratio is currently 1.5 days. Approximately 5.9% of the shares of the company are short sold.
Bitcoin Depot Price Performance
NASDAQ:BTM remained flat at $1.99 during mid-day trading on Friday. 29,537 shares of the company’s stock were exchanged, compared to its average volume of 97,725. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 7.66. Bitcoin Depot has a 12-month low of $1.36 and a 12-month high of $10.60. The firm’s 50 day moving average is $1.87 and its two-hundred day moving average is $2.22.
Bitcoin Depot (NASDAQ:BTM – Get Free Report) last announced its quarterly earnings data on Monday, April 15th. The company reported ($0.50) EPS for the quarter. Bitcoin Depot had a negative net margin of 4.28% and a negative return on equity of 483.86%. The firm had revenue of $148.41 million during the quarter. As a group, research analysts forecast that Bitcoin Depot will post 0.04 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. B. Riley reduced their target price on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of Bitcoin Depot in a report on Tuesday, May 14th.
Insider Buying and Selling at Bitcoin Depot
In related news, COO Christopher Scott Buchanan sold 50,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $1.75, for a total value of $87,500.00. Following the completion of the transaction, the chief operating officer now directly owns 351,276 shares of the company’s stock, valued at $614,733. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 50,000 shares of Bitcoin Depot stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $1.75, for a total transaction of $87,500.00. Following the sale, the chief operating officer now directly owns 351,276 shares of the company’s stock, valued at $614,733. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandon Taylor Mintz sold 2,906,976 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $1.72, for a total value of $4,999,998.72. The disclosure for this sale can be found here. Insiders sold a total of 3,104,353 shares of company stock valued at $5,372,260 in the last quarter. Corporate insiders own 20.09% of the company’s stock.
Institutional Trading of Bitcoin Depot
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Shaolin Capital Management LLC bought a new position in shares of Bitcoin Depot in the 3rd quarter valued at about $11,244,000. AWM Investment Company Inc. acquired a new stake in Bitcoin Depot during the 3rd quarter worth $2,464,000. Cohanzick Management LLC raised its position in shares of 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 during the last quarter. Radcliffe Capital Management L.P. acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at $1,075,000. Finally, Meteora Capital LLC bought a new position in shares of Bitcoin Depot in the 3rd quarter worth $902,000. 9.18% of the stock is 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.