Bitcoin Depot Inc. (NASDAQ:BTM) Receives Average Rating of “Moderate Buy” from Brokerages

Bitcoin Depot Inc. (NASDAQ:BTM) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $5.8333.

Several brokerages have recently issued reports on BTM. Zacks Research lowered shares of Bitcoin Depot from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. B. Riley lowered Bitcoin Depot from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. HC Wainwright upped their price target on Bitcoin Depot from $5.00 to $6.50 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Bitcoin Depot in a report on Wednesday, October 8th.

Bitcoin Depot Trading Down 7.0%

NASDAQ BTM opened at $1.33 on Monday. The business’s fifty day moving average is $2.51 and its 200-day moving average is $3.90. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $96.90 million, a price-to-earnings ratio of 5.78 and a beta of 0.85. Bitcoin Depot has a one year low of $0.93 and a one year high of $6.88.

Bitcoin Depot (NASDAQ:BTM) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $162.48 million during the quarter, compared to the consensus estimate of $153.11 million. Bitcoin Depot had a net margin of 1.44% and a return on equity of 791.02%.

Insider Buying and Selling at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $3.82, for a total value of $26,740.00. Following the sale, the chief operating officer owned 133,276 shares of the company’s stock, valued at $509,114.32. The trade was a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 21,000 shares of company stock valued at $55,580 in the last three months. 51.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Private Wealth Services LLC purchased a new position in Bitcoin Depot in the 3rd quarter valued at approximately $36,000. Welch Capital Partners LLC NY boosted its holdings in shares of Bitcoin Depot by 14.3% in the third quarter. Welch Capital Partners LLC NY now owns 1,469,313 shares of the company’s stock worth $4,937,000 after acquiring an additional 184,123 shares during the period. Centiva Capital LP bought a new position in shares of Bitcoin Depot in the third quarter worth $269,000. Man Group plc raised its stake in shares of Bitcoin Depot by 1,803.0% during the 3rd quarter. Man Group plc now owns 315,581 shares of the company’s stock valued at $1,060,000 after purchasing an additional 298,998 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of Bitcoin Depot by 19.2% during the 3rd quarter. Two Sigma Investments LP now owns 604,387 shares of the company’s stock valued at $2,031,000 after purchasing an additional 97,506 shares during the period. 9.18% of the stock is owned by institutional investors.

Bitcoin Depot Company 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.