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

Bitcoin Depot Inc. (NASDAQ:BTM) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $5.8333.

BTM has been the topic of several research reports. Wall Street Zen lowered Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Bitcoin Depot in a report on Wednesday, October 8th. Finally, B. Riley cut Bitcoin Depot from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th.

Bitcoin Depot Stock Down 2.3%

Bitcoin Depot stock opened at $1.29 on Friday. The firm has a market cap of $93.99 million, a price-to-earnings ratio of 5.61 and a beta of 0.87. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.88 and a quick ratio of 1.88. Bitcoin Depot has a fifty-two week low of $0.93 and a fifty-two week high of $6.88. The firm has a fifty day moving average price of $1.80 and a two-hundred day moving average price of $3.49.

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

Hedge Funds Weigh In On Bitcoin Depot

A number of hedge funds have recently made changes to their positions in BTM. Kestra Private Wealth Services LLC bought a new position in shares of Bitcoin Depot during the 3rd quarter worth about $36,000. Bank of America Corp DE increased its stake in Bitcoin Depot by 11,320.0% in the second quarter. Bank of America Corp DE now owns 9,707 shares of the company’s stock valued at $49,000 after acquiring an additional 9,622 shares during the period. Cetera Investment Advisers bought a new stake in Bitcoin Depot in the second quarter valued at about $51,000. GSA Capital Partners LLP acquired a new position in Bitcoin Depot in the third quarter worth about $70,000. Finally, Truist Financial Corp bought a new position in Bitcoin Depot during the second quarter worth about $71,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

About Bitcoin Depot

Bitcoin Depot, Inc operates one of the largest networks of self-service cryptocurrency kiosks in North America, enabling customers to buy and sell Bitcoin and other digital assets using cash or debit cards. Through a partnership model with convenience stores, gas stations and retail outlets, the company provides an accessible on-ramp and off-ramp for individuals entering the cryptocurrency market without requiring a bank account or extensive technical knowledge. Transactions are completed in real time at the point of sale, with verification and receipt provided via email or mobile phone.

Founded in 2016 and headquartered in Atlanta, Georgia, Bitcoin Depot began as a privately held startup focused on expanding retail access to digital currencies.