Bitcoin Depot Inc. (NASDAQ:BTM) Major Shareholder Andrew Mitchell Paul Buys 38,560 Shares

Bitcoin Depot Inc. (NASDAQ:BTM) major shareholder Andrew Mitchell Paul purchased 38,560 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $1.70 per share, for a total transaction of $65,552.00. Following the purchase, the insider now owns 155,786 shares in the company, valued at approximately $264,836.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Andrew Mitchell Paul also recently made the following trade(s):

• On Friday, August 9th, Andrew Mitchell Paul acquired 97,804 shares of Bitcoin Depot stock. The shares were bought at an average cost of $1.66 per share, with a total value of $162,354.64.
• On Monday, August 5th, Andrew Mitchell Paul acquired 19,422 shares of Bitcoin Depot stock. The stock was bought at an average cost of $1.54 per share, for a total transaction of $29,909.88.

Bitcoin Depot Stock Performance

BTM opened at $1.55 on Thursday. The company has a debt-to-equity ratio of 9.33, a current ratio of 1.16 and a quick ratio of 1.16. The business has a fifty day simple moving average of $1.64 and a 200 day simple moving average of $1.81. Bitcoin Depot Inc. has a 1 year low of $1.33 and a 1 year high of $3.70. The company has a market capitalization of $93.17 million, a PE ratio of -0.83 and a beta of -0.34.

Bitcoin Depot (NASDAQ:BTM) last posted its earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%. The firm had revenue of $163.07 million for the quarter, compared to analyst estimates of $148.49 million. Research analysts expect that Bitcoin Depot Inc. will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright decreased their price target on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, August 15th.

Institutional Trading of Bitcoin Depot

Several hedge funds and other institutional investors have recently bought and sold shares of BTM. Owl Creek Asset Management L.P. acquired a new position in Bitcoin Depot in the 4th quarter valued at $68,000. Renaissance Technologies LLC increased its position 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 purchasing an additional 26,000 shares during the period. Privium Fund Management UK Ltd bought a new position in shares of Bitcoin Depot in the first quarter worth $60,000. Shaolin Capital Management LLC raised its stake in Bitcoin Depot by 7.6% in the first quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after purchasing an additional 49,600 shares in the last quarter. Finally, Cohanzick Management LLC lifted its position in Bitcoin Depot by 54.4% during the fourth quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock worth $1,944,000 after purchasing an additional 212,000 shares during the period. Institutional investors and hedge funds own 9.18% of the company’s stock.

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.