Bitcoin Depot Inc. (NASDAQ:BTM) Short Interest Update

Bitcoin Depot Inc. (NASDAQ:BTM) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 342,200 shares, a drop of 9.2% from the March 15th total of 376,900 shares. Approximately 10.5% of the shares of the stock are short sold. Based on an average trading volume of 372,400 shares, the short-interest ratio is currently 0.9 days.

Insider Buying and Selling at Bitcoin Depot

In other Bitcoin Depot 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 transaction of $35,989.76. Following the transaction, the chief operating officer now directly owns 338,741 shares in the company, valued at $840,077.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Brandon Taylor Mintz sold 62,865 shares of Bitcoin Depot stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.99, for a total value of $125,101.35. Following the completion of the transaction, the insider now owns 759,567 shares of the company’s stock, valued at approximately $1,511,538.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Christopher Scott Buchanan sold 14,512 shares of Bitcoin Depot stock in a transaction dated Wednesday, March 20th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 127,377 shares of company stock worth $247,591 over the last ninety days. Insiders own 20.09% of the company’s stock.

Institutional Investors Weigh In On Bitcoin Depot

A number of large investors have recently made changes to their positions in the company. Cowen AND Company LLC bought a new position in shares of Bitcoin Depot during the 3rd quarter valued at approximately $35,000. Wellington Management Group LLP bought a new stake in Bitcoin Depot in the fourth quarter worth $35,000. Vanguard Group Inc. bought a new stake in Bitcoin Depot in the third quarter worth $45,000. Northern Trust Corp bought a new stake in Bitcoin Depot in the fourth quarter worth $61,000. Finally, Owl Creek Asset Management L.P. bought a new stake in Bitcoin Depot in the fourth quarter worth $68,000. 9.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. B. Riley lowered their price target on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. HC Wainwright lowered their price target on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Finally, Northland Securities assumed coverage on Bitcoin Depot in a report on Wednesday, December 20th. They issued a “market perform” rating and a $3.50 price objective for the company.

Bitcoin Depot Stock Up 12.6 %

NASDAQ BTM opened at $1.61 on Wednesday. Bitcoin Depot has a one year low of $1.36 and a one year high of $10.93. The stock has a 50-day moving average of $2.22 and a 200 day moving average of $2.38. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.16.

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.