Bitcoin Depot Inc. (NASDAQ:BTM – Get Free Report) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totalling 342,200 shares, a decrease of 9.2% from the March 15th total of 376,900 shares. Based on an average daily trading volume, of 372,400 shares, the short-interest ratio is presently 0.9 days. Currently, 10.5% of the company’s shares are sold short.
Insiders Place Their Bets
In other Bitcoin Depot news, insider Brandon Taylor Mintz sold 50,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $1.73, for a total transaction of $86,500.00. Following the transaction, the insider now directly owns 696,702 shares in the company, valued at approximately $1,205,294.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Brandon Taylor Mintz sold 50,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $1.73, for a total value of $86,500.00. Following the transaction, the insider now directly owns 696,702 shares in the company, valued at approximately $1,205,294.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Christopher Scott Buchanan sold 14,512 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the transaction, the chief operating officer now owns 338,741 shares in the company, valued at $840,077.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,377 shares of company stock worth $247,591. Corporate insiders own 20.09% of the company’s stock.
Hedge Funds Weigh In On Bitcoin Depot
Large investors have recently bought and sold shares of the stock. Cowen AND Company LLC purchased a new stake in shares of Bitcoin Depot during the third quarter valued at $35,000. Wellington Management Group LLP purchased a new position in Bitcoin Depot in the fourth quarter worth about $35,000. Vanguard Group Inc. purchased a new position in Bitcoin Depot in the third quarter worth about $45,000. Northern Trust Corp purchased a new position in Bitcoin Depot in the fourth quarter worth about $61,000. Finally, Owl Creek Asset Management L.P. purchased a new position in Bitcoin Depot in the fourth quarter worth about $68,000. 9.18% of the stock is owned by hedge funds and other institutional investors.
Bitcoin Depot Price Performance
Analyst Ratings Changes
Several brokerages have recently issued reports on BTM. HC Wainwright decreased their target price on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. B. Riley decreased their target price on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Finally, Northland Securities began coverage on Bitcoin Depot in a research report on Wednesday, December 20th. They set a “market perform” rating and a $3.50 target price for the company.
Read Our Latest Stock Analysis on Bitcoin Depot
Bitcoin Depot Company Profile
Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.
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