Bitcoin Depot Inc. to Post Q1 2024 Earnings of ($0.12) Per Share, B. Riley Forecasts (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTMFree Report) – Investment analysts at B. Riley decreased their Q1 2024 earnings per share estimates for Bitcoin Depot in a report issued on Monday, May 13th. B. Riley analyst H. Goetsch now forecasts that the company will earn ($0.12) per share for the quarter, down from their previous estimate of ($0.04). B. Riley currently has a “Buy” rating and a $4.00 target price on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is $0.13 per share. B. Riley also issued estimates for Bitcoin Depot’s Q2 2024 earnings at ($0.03) EPS, Q3 2024 earnings at $0.06 EPS and FY2024 earnings at ($0.06) EPS.

Bitcoin Depot (NASDAQ:BTMGet Free Report) last issued its quarterly earnings data on Monday, April 15th. The company reported ($0.50) EPS for the quarter. The business had revenue of $148.41 million for the quarter.

Separately, HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Bitcoin Depot in a report on Tuesday.

Read Our Latest Research Report on BTM

Bitcoin Depot Price Performance

BTM opened at $1.86 on Wednesday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $2.02 and its 200-day simple moving average is $2.27. Bitcoin Depot has a one year low of $1.36 and a one year high of $10.85.

Insider Activity at Bitcoin Depot

In related news, insider Brandon Taylor Mintz sold 62,865 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $1.99, for a total value of $125,101.35. Following the completion of the sale, the insider now owns 759,567 shares of the company’s stock, valued at $1,511,538.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 50,000 shares of Bitcoin Depot stock in a transaction on Monday, April 29th. The shares were sold at an average price of $1.75, for a total transaction of $87,500.00. Following the completion of the sale, the chief operating officer now owns 351,276 shares of the company’s stock, valued at approximately $614,733. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandon Taylor Mintz sold 62,865 shares of Bitcoin Depot stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $1.99, for a total transaction of $125,101.35. Following the sale, the insider now directly owns 759,567 shares of the company’s stock, valued at approximately $1,511,538.33. The disclosure for this sale can be found here. Insiders sold a total of 3,104,353 shares of company stock valued at $5,372,260 over the last quarter. Corporate insiders own 20.09% of the company’s stock.

Hedge Funds Weigh In On Bitcoin Depot

Several institutional investors and hedge funds have recently made changes to their positions in BTM. Cowen AND Company LLC acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at $35,000. Meteora Capital LLC acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at $902,000. Saba Capital Management L.P. acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at $305,000. AWM Investment Company Inc. acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at $2,464,000. Finally, Kepos Capital LP acquired a new position in shares of Bitcoin Depot in the 3rd quarter valued at $368,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

About Bitcoin Depot

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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.

Further Reading

Earnings History and Estimates for Bitcoin Depot (NASDAQ:BTM)

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