Short Interest in Bitcoin Depot Inc. (NASDAQ:BTM) Decreases By 12.6%

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

Hedge Funds Weigh In On Bitcoin Depot

A number of institutional investors have recently added to or reduced their stakes in BTM. Blue Owl Capital Holdings LP raised its holdings in Bitcoin Depot by 480.0% in the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock valued at $29,000 after acquiring an additional 15,000 shares in the last quarter. Walleye Capital LLC increased its position in shares of 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 during the last quarter. Renaissance Technologies LLC raised its stake 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. 272 Capital LP bought a new position in shares of Bitcoin Depot during the third quarter worth about $401,000. Finally, Radcliffe Capital Management L.P. lifted its position in shares of Bitcoin Depot by 134.3% during the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock worth $463,000 after purchasing an additional 163,854 shares during the last quarter. Institutional investors and hedge funds own 9.18% of the company’s stock.

Bitcoin Depot Stock Up 4.3 %

Shares of BTM traded up $0.06 during mid-day trading on Monday, reaching $1.44. 180,210 shares of the stock traded hands, compared to its average volume of 369,903. The firm has a market cap of $86.96 million and a price-to-earnings ratio of -1.55. The stock has a fifty day simple moving average of $1.65 and a 200 day simple moving average of $1.66. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33. Bitcoin Depot has a 12-month low of $1.25 and a 12-month high of $3.52.

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.