Shaolin Capital Management LLC Sells 65,000 Shares of Bitcoin Depot Inc. (NASDAQ:BTM)

Shaolin Capital Management LLC reduced its position in shares of Bitcoin Depot Inc. (NASDAQ:BTM) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 634,600 shares of the company’s stock after selling 65,000 shares during the quarter. Shaolin Capital Management LLC owned 1.05% of Bitcoin Depot worth $1,028,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BTM. Blue Owl Capital Holdings LP increased its stake in shares of Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after purchasing an additional 15,000 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Bitcoin Depot by 96.4% during the fourth quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock worth $237,000 after purchasing an additional 71,700 shares during the period. 272 Capital LP acquired a new position in Bitcoin Depot during the third quarter worth approximately $401,000. Finally, Radcliffe Capital Management L.P. raised its stake in Bitcoin Depot by 134.3% in the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock valued at $463,000 after buying an additional 163,854 shares during the period. Institutional investors and hedge funds own 9.18% of the company’s stock.

Insider Transactions at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 20,476 shares of Bitcoin Depot stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $1.33, for a total value of $27,233.08. Following the completion of the sale, the chief operating officer now directly owns 169,276 shares in the company, valued at approximately $225,137.08. The trade was a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 55,000 shares of company stock valued at $77,348. 70.23% of the stock is currently owned by corporate insiders.

Bitcoin Depot Stock Up 8.3 %

Bitcoin Depot stock opened at $1.57 on Friday. The company’s 50-day moving average price is $1.32 and its two-hundred day moving average price is $1.57. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33. The stock has a market cap of $100.38 million, a P/E ratio of -1.69 and a beta of -0.26. Bitcoin Depot Inc. has a twelve month low of $0.93 and a twelve month high of $3.52.

Bitcoin Depot (NASDAQ:BTM) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.25). The firm had revenue of $136.83 million for the quarter, compared to analyst estimates of $131.50 million. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 2.28%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BTM shares. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Bitcoin Depot in a research note on Tuesday, March 18th. B. Riley reaffirmed a “buy” rating and set a $4.70 price objective (up from $4.50) on shares of Bitcoin Depot in a research report on Wednesday, March 19th.

Bitcoin Depot 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.