Bitcoin Depot Inc. (NASDAQ: BTM) Short Interest Update

Bitcoin Depot Inc. (NASDAQ: BTM) experienced a notable decline in short interest during January. As of January 31st, the total short interest was 537,400 shares, reflecting a 12.6% decrease from the 614,700 shares reported on January 15th. With an average daily trading volume of 1,220,000 shares, the current days-to-cover ratio stands at 0.4 days. Presently, 3.7% of the company's shares are sold short.

Recent Trading Activity

Bitcoin Depot's shares showed an increase of 4.3% as they traded up by $0.06 on Monday, reaching $1.44. During this period, 180,210 shares were exchanged, which is significantly higher than the average volume of 369,903 shares. The company has a market capitalization of $86.96 million and a price-to-earnings ratio of -1.55. Additionally, Bitcoin Depot has a quick ratio and current ratio both at 0.91, while its debt-to-equity ratio is quite high at 9.33. Over the past year, the stock reached a low of $1.25 and a high of $3.52. The moving averages for the 50-day and 200-day periods are currently at $1.65 and $1.66, respectively.

Institutional Stakeholding Changes

Various hedge funds have recently adjusted their stakes in Bitcoin Depot. Notably, Blue Owl Capital Holdings LP boosted its position by an impressive 480.0% in the fourth quarter, acquiring an additional 15,000 shares, leading to a total of 18,125 shares valued at $29,000. Walleye Capital LLC increased its holdings by 110.1% in the third quarter, adding 12,337 shares to its portfolio, now valuing at $37,000. Furthermore, Renaissance Technologies LLC raised its stake by 96.4% during the fourth quarter, now holding 146,100 shares valued at $237,000 after acquiring 71,700 additional shares. Additionally, 272 Capital LP made a new investment during the third quarter valued at about $401,000. Radcliffe Capital Management L.P. enhanced its holdings by 134.3% in the fourth quarter, owning 285,835 shares worth $463,000 after adding 163,854 shares. Institutional investors and hedge funds currently hold 9.18% of Bitcoin Depot's stock.

About Bitcoin Depot

Bitcoin Depot Inc is known for owning and operating a network of cryptocurrency kiosks across North America. Through the BTM kiosk network, the company facilitates the buying and selling of cryptocurrencies such as bitcoin, litecoin, and ethereum. Furthermore, Bitcoin Depot also offers cryptocurrency sales through retail locations via its BDCheckout service and enables over-the-counter trades on its website.

Bitcoin, Short, Stocks