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

Bitcoin Depot Inc. (NASDAQ:BTM) has been given an average recommendation of “Reduce” by the five analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $4.10.

A number of brokerages have recently commented on BTM. HC Wainwright cut Bitcoin Depot from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 19th. Noble Financial cut Bitcoin Depot from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 13th. Wall Street Zen cut Bitcoin Depot from a “sell” rating to a “strong sell” rating in a research note on Sunday, April 19th. Finally, B. Riley Financial upped their price target on Bitcoin Depot to $4.20 and gave the company a “neutral” rating in a research note on Tuesday, March 17th.

Bitcoin Depot Stock Performance

Shares of BTM stock opened at $0.49 on Monday. The company has a debt-to-equity ratio of 4.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $5.47 million, a PE ratio of 0.26 and a beta of 3.12. The stock has a 50-day moving average of $3.42 and a 200-day moving average of $6.62. Bitcoin Depot has a one year low of $0.45 and a one year high of $48.16.

Bitcoin Depot (NASDAQ:BTM) last announced its quarterly earnings results on Monday, March 16th. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.71). The company had revenue of $116.04 million during the quarter, compared to the consensus estimate of $113.93 million. Bitcoin Depot had a negative net margin of 0.94% and a negative return on equity of 70.95%. As a group, sell-side analysts expect that Bitcoin Depot will post -2.22 earnings per share for the current year.

Institutional Trading of Bitcoin Depot

Institutional investors and hedge funds have recently modified their holdings of the stock. Aristides Capital LLC acquired a new stake in Bitcoin Depot during the 4th quarter worth approximately $137,000. Engineers Gate Manager LP raised its holdings in Bitcoin Depot by 229.5% during the 4th quarter. Engineers Gate Manager LP now owns 47,543 shares of the company’s stock worth $61,000 after buying an additional 33,112 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Bitcoin Depot during the 4th quarter worth approximately $45,000. Kestra Private Wealth Services LLC acquired a new stake in Bitcoin Depot during the 3rd quarter worth approximately $36,000. Finally, Bank of America Corp DE raised its holdings in Bitcoin Depot by 11,320.0% during the 2nd quarter. Bank of America Corp DE now owns 9,707 shares of the company’s stock worth $49,000 after buying an additional 9,622 shares during the period. 9.18% of the stock is owned by institutional investors.

Bitcoin Depot Company Profile

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.