Shaolin Capital Management LLC Sells 65,000 Shares of Bitcoin Depot Inc. (NASDAQ:BTM)

Shaolin Capital Management LLC reduced its position in Bitcoin Depot Inc. (NASDAQ:BTM) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 634,600 shares of the company’s stock after selling 65,000 shares during the quarter. Shaolin Capital Management LLC’s holdings in Bitcoin Depot were worth $1,028,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BTM. Blue Owl Capital Holdings LP boosted its position in shares of Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after acquiring an additional 15,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Bitcoin Depot by 96.4% in the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock valued at $237,000 after purchasing an additional 71,700 shares in the last quarter. Radcliffe Capital Management L.P. increased its stake in shares of Bitcoin Depot by 134.3% in the 4th quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock valued at $463,000 after purchasing an additional 163,854 shares during the last quarter. Finally, 272 Capital LP acquired a new position in shares of Bitcoin Depot during the 3rd quarter worth $401,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,476 shares of Bitcoin Depot stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $1.33, for a total transaction of $27,233.08. Following the transaction, the chief operating officer now directly owns 169,276 shares of the company’s stock, valued at approximately $225,137.08. The trade was a 10.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 55,000 shares of company stock valued at $77,348 in the last ninety days. 70.23% of the stock is currently owned by insiders.

Bitcoin Depot Stock Up 8.3 %

Shares of BTM opened at $1.57 on Friday. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91. Bitcoin Depot Inc. has a 52 week low of $0.93 and a 52 week high of $3.52. The stock has a market capitalization of $100.38 million, a price-to-earnings ratio of -1.69 and a beta of -0.26. The stock has a fifty day moving average of $1.32 and a 200-day moving average of $1.57.

Bitcoin Depot (NASDAQ:BTM) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.25). The firm had revenue of $136.83 million for the quarter, compared to analyst estimates of $131.50 million. Bitcoin Depot had a negative net margin of 2.28% and a negative return on equity of 488.33%.

Analyst Ratings Changes

Several research firms recently weighed in on BTM. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Bitcoin Depot in a research note on Tuesday, March 18th. B. Riley reaffirmed a “buy” rating and set a $4.70 price target (up from $4.50) on shares of Bitcoin Depot in a report on Wednesday, March 19th.

Bitcoin Depot 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.