Bitcoin Depot Inc. (NASDAQ:BTM) Sees Large 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. Approximately 9.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is presently 0.5 days.

Analysts Set New Price Targets

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

Bitcoin Depot Stock Down 4.1 %

Shares of Bitcoin Depot stock traded down $0.07 during trading on Monday, hitting $1.54. The company’s stock had a trading volume of 291,475 shares, compared to its average volume of 374,259. Bitcoin Depot has a 52 week low of $1.33 and a 52 week high of $3.52. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91. The company has a fifty day simple moving average of $1.74 and a two-hundred day simple moving average of $1.69. The company has a market capitalization of $92.70 million and a PE ratio of -1.65.

Hedge Funds Weigh In On Bitcoin Depot

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Walleye Capital LLC boosted its stake in 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 in the last quarter. Renaissance Technologies LLC raised its holdings in Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after buying an additional 26,000 shares during the last quarter. Finally, 272 Capital LP bought a new position in shares of Bitcoin Depot in the third quarter worth approximately $401,000. Institutional investors own 9.18% of the company’s stock.

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.