Bitcoin Depot Inc. (NASDAQ:BTM) Sees Large Decline in Short Interest

Bitcoin Depot Inc. (NASDAQ:BTM) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 537,400 shares, a decrease of 12.6% from the January 15th total of 614,700 shares. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately 3.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BTM. Walleye Capital LLC increased its stake in Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after acquiring an additional 12,337 shares during the last quarter. Blue Owl Capital Holdings LP increased its stake in shares of Bitcoin Depot by 480.0% in the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock valued at $29,000 after purchasing an additional 15,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Bitcoin Depot by 96.4% during the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock worth $237,000 after buying an additional 71,700 shares in the last quarter. Radcliffe Capital Management L.P. lifted its position in shares of Bitcoin Depot by 134.3% during the 4th quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock worth $463,000 after buying an additional 163,854 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Bitcoin Depot during the 4th quarter worth $267,000. 9.18% of the stock is owned by institutional investors.

Bitcoin Depot Stock Performance

Shares of Bitcoin Depot stock traded up $0.06 during trading on Monday, reaching $1.44. The company’s stock had a trading volume of 180,210 shares, compared to its average volume of 369,903. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33. The business’s 50-day moving average price is $1.65 and its 200-day moving average price is $1.66. Bitcoin Depot has a 52 week low of $1.25 and a 52 week high of $3.52. The firm has a market cap of $86.96 million and a PE ratio of -1.55.

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.