Bitcoin Depot Inc. (NASDAQ:BTM) Given Consensus Rating of “Hold” by Brokerages

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have earned a consensus rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.8333.

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bitcoin Depot in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Finally, B. Riley cut Bitcoin Depot from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th.

Bitcoin Depot Price Performance

Shares of BTM stock opened at $1.10 on Tuesday. The business has a fifty day simple moving average of $1.38 and a 200 day simple moving average of $2.94. The company has a market cap of $80.15 million, a P/E ratio of 4.78 and a beta of 0.87. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.86. Bitcoin Depot has a twelve month low of $0.93 and a twelve month high of $6.88.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Heron Bay Capital Management acquired a new stake in Bitcoin Depot during the 2nd quarter worth approximately $327,000. Truist Financial Corp acquired a new position in Bitcoin Depot in the 2nd quarter valued at approximately $71,000. Evergreen Capital Management LLC bought a new position in shares of Bitcoin Depot during the second quarter valued at $471,000. Man Group plc acquired a new position in shares of Bitcoin Depot during the second quarter worth $84,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Bitcoin Depot during the second quarter worth $1,149,000. 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.