Brokers Issue Forecasts for Bitcoin Depot Inc.’s Q2 2024 Earnings (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Research analysts at Noble Financial reduced their Q2 2024 earnings estimates for Bitcoin Depot in a report issued on Monday, April 22nd. Noble Financial analyst M. Kupinski now expects that the company will post earnings of $0.07 per share for the quarter, down from their previous forecast of $0.11. The consensus estimate for Bitcoin Depot’s current full-year earnings is $0.25 per share. Noble Financial also issued estimates for Bitcoin Depot’s Q3 2024 earnings at $0.12 EPS and FY2024 earnings at $0.32 EPS.

Other analysts also recently issued reports about the company. HC Wainwright decreased their target price on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. B. Riley decreased their target price on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th.

Bitcoin Depot Price Performance

NASDAQ BTM opened at $1.93 on Wednesday. Bitcoin Depot has a 52 week low of $1.36 and a 52 week high of $10.93. The company has a fifty day moving average of $2.18 and a two-hundred day moving average of $2.35. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.13.

Hedge Funds Weigh In On Bitcoin Depot

A number of large investors have recently added to or reduced their stakes in the company. Shaolin Capital Management LLC purchased a new stake in shares of Bitcoin Depot during the third quarter worth about $11,244,000. AWM Investment Company Inc. purchased a new stake in shares of Bitcoin Depot during the third quarter worth about $2,464,000. Radcliffe Capital Management L.P. purchased a new stake in shares of Bitcoin Depot during the third quarter worth about $1,075,000. Meteora Capital LLC purchased a new stake in shares of Bitcoin Depot during the third quarter worth about $902,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Bitcoin Depot during the third quarter worth about $703,000. 9.18% of the stock is currently owned by institutional investors.

Insider Activity at Bitcoin Depot

In related news, insider Brandon Taylor Mintz sold 62,865 shares of Bitcoin Depot stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.99, for a total value of $125,101.35. Following the completion of the sale, the insider now directly owns 759,567 shares in the company, valued at $1,511,538.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bitcoin Depot news, insider Brandon Taylor Mintz sold 62,865 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $1.99, for a total value of $125,101.35. Following the completion of the transaction, the insider now directly owns 759,567 shares in the company, valued at $1,511,538.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total transaction of $35,989.76. Following the completion of the transaction, the chief operating officer now owns 338,741 shares of the company’s stock, valued at $840,077.68. The disclosure for this sale can be found here. Insiders sold 127,377 shares of company stock worth $247,591 over the last three months. 20.09% of the stock is owned by corporate insiders.

About Bitcoin Depot

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.