Insider Selling: Bitcoin Depot Inc. (NASDAQ:BTM) Insider Sells 2,906,976 Shares of Stock

Bitcoin Depot Inc. (NASDAQ:BTM) insider Brandon Taylor Mintz sold 2,906,976 shares of Bitcoin Depot stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $1.72, for a total value of $4,999,998.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Brandon Taylor Mintz also recently made the following trade(s):

• On Monday, April 1st, Brandon Taylor Mintz sold 50,000 shares of Bitcoin Depot stock. The shares were sold at an average price of $1.73, for a total value of $86,500.00.
• On Wednesday, March 27th, Brandon Taylor Mintz sold 62,865 shares of Bitcoin Depot stock. The shares were sold at an average price of $1.99, for a total value of $125,101.35.

Bitcoin Depot Price Performance

Shares of BTM stock opened at $1.80 on Friday. Bitcoin Depot Inc. has a 1-year low of $1.36 and a 1-year high of $10.86. The stock’s fifty day moving average price is $2.14 and its 200 day moving average price is $2.34. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.81 and a current ratio of 0.81.

Bitcoin Depot (NASDAQ:BTM) last announced its earnings results on Monday, April 15th. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $148.41 million during the quarter. Sell-side analysts anticipate that Bitcoin Depot Inc. will post 0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BTM has been the topic of a number of analyst reports. HC Wainwright cut their price target on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. B. Riley dropped their target price on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th.

Institutional Trading of Bitcoin Depot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Owl Creek Asset Management L.P. acquired a new stake in Bitcoin Depot during the 4th quarter worth about $68,000. Cohanzick Management LLC lifted its holdings in shares of Bitcoin Depot by 54.4% in the 4th quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock valued at $1,944,000 after buying an additional 212,000 shares during the period. Shaolin Capital Management LLC acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at about $2,105,000. Radcliffe Capital Management L.P. acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at about $1,075,000. Finally, Kepos Capital LP acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at about $368,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

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.