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

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have been given an average rating of “Buy” by the five research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $4.83.

A number of analysts recently commented on BTM shares. Wall Street Zen upgraded shares of Bitcoin Depot from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Northland Capmk upgraded shares of Bitcoin Depot from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 16th. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Bitcoin Depot in a research note on Tuesday, March 18th. Northland Securities upgraded shares of Bitcoin Depot from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a research note on Friday, May 16th. Finally, B. Riley lifted their price objective on shares of Bitcoin Depot from $4.70 to $5.50 and gave the company a “buy” rating in a research note on Friday, May 16th.

Bitcoin Depot Stock Down 0.5%

BTM stock opened at $6.22 on Monday. The firm has a 50 day moving average of $2.63 and a 200 day moving average of $1.91. The stock has a market capitalization of $400.02 million, a PE ratio of -6.69 and a beta of 0.75. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33. Bitcoin Depot has a 52 week low of $0.93 and a 52 week high of $6.66.

Bitcoin Depot (NASDAQ:BTM) last released its earnings results on Thursday, May 15th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. The company had revenue of $164.23 million during the quarter, compared to analysts’ expectations of $151.67 million. Bitcoin Depot had a negative net margin of 2.28% and a negative return on equity of 488.33%.

Insider Activity

In other news, COO Christopher Scott Buchanan sold 29,524 shares of Bitcoin Depot stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.44, for a total transaction of $42,514.56. Following the completion of the transaction, the chief operating officer now directly owns 189,752 shares of the company’s stock, valued at $273,242.88. The trade was a 13.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 70.23% of the company’s stock.

Hedge Funds Weigh In On Bitcoin Depot

Several institutional investors have recently made changes to their positions in BTM. Blue Owl Capital Holdings LP increased its holdings in shares of Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock valued at $29,000 after purchasing an additional 15,000 shares in the last quarter. Verdence Capital Advisors LLC purchased a new position in shares of Bitcoin Depot during the 1st quarter valued at approximately $73,000. Renaissance Technologies LLC increased its holdings in shares of Bitcoin Depot by 96.4% during the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock valued at $237,000 after purchasing an additional 71,700 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in Bitcoin Depot in the 4th quarter worth $267,000. Finally, Two Sigma Investments LP purchased a new stake in Bitcoin Depot in the 4th quarter worth $427,000. 9.18% of the stock is owned by hedge funds and other 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.