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

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

Institutional Investors Weigh In On Bitcoin Depot

Several institutional investors and hedge funds have recently modified their holdings of BTM. Renaissance Technologies LLC raised its holdings in shares of Bitcoin Depot by 122.1% during the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after acquiring an additional 26,000 shares in the last quarter. Walleye Capital LLC increased its position in Bitcoin Depot by 110.1% in the third 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. Finally, 272 Capital LP bought a new stake in Bitcoin Depot in the third quarter worth $401,000. Institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Price Performance

Shares of NASDAQ BTM traded down $0.04 during midday trading on Monday, reaching $1.56. The stock had a trading volume of 374,602 shares, compared to its average volume of 378,278. 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 has a 12-month low of $1.33 and a 12-month high of $3.52. The stock has a 50-day moving average of $1.74 and a 200-day moving average of $1.69. The company has a market capitalization of $94.21 million and a price-to-earnings ratio of -1.68.

Analyst Upgrades and Downgrades

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

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.