Bitcoin Depot Inc. (NASDAQ:BTM) Short Interest Up 13.1% in December

Bitcoin Depot Inc. (NASDAQ:BTM) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 574,800 shares, an increase of 13.1% from the December 15th total of 508,400 shares. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 9.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Noble Financial raised shares of Bitcoin Depot to a “strong-buy” rating in a research note on Thursday, October 17th.

Institutional Investors Weigh In On Bitcoin Depot

Several hedge funds have recently added to or reduced their stakes in BTM. 272 Capital LP bought a new stake in shares of Bitcoin Depot in the 3rd quarter valued at about $401,000. Renaissance Technologies LLC lifted its stake in shares of 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 acquiring an additional 26,000 shares during the period. Finally, Walleye Capital LLC boosted its holdings 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. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Bitcoin Depot Price Performance

BTM traded up $0.15 on Friday, reaching $1.79. The stock had a trading volume of 1,219,698 shares, compared to its average volume of 348,309. The firm has a 50-day moving average of $1.84 and a 200-day moving average of $1.68. Bitcoin Depot has a fifty-two week low of $1.33 and a fifty-two week high of $3.52. The company has a market capitalization of $108.10 million and a price-to-earnings ratio of -1.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 9.33.

About Bitcoin Depot

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.