B. Riley Has Pessimistic View of Bitcoin Depot Q3 Earnings

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities research analysts at B. Riley reduced their Q3 2024 earnings estimates for shares of Bitcoin Depot in a research report issued on Monday, November 11th. B. Riley analyst H. Goetsch now anticipates that the company will post earnings of ($0.01) per share for the quarter, down from their previous forecast of $0.01. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.09) per share.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The business had revenue of $163.07 million during the quarter, compared to the consensus estimate of $148.49 million. Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%.

A number of other brokerages have also commented on BTM. HC Wainwright cut their price objective on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Thursday, August 15th. Noble Financial raised shares of Bitcoin Depot to a “strong-buy” rating in a research report on Thursday, October 17th.

Bitcoin Depot Stock Down 1.2 %

BTM stock opened at $2.48 on Wednesday. The company has a debt-to-equity ratio of 9.33, a current ratio of 1.16 and a quick ratio of 1.16. Bitcoin Depot has a 52-week low of $1.33 and a 52-week high of $3.70. The company has a 50-day moving average of $1.60 and a two-hundred day moving average of $1.71. The stock has a market capitalization of $149.07 million, a price-to-earnings ratio of -1.89 and a beta of -0.33.

Institutional Trading of Bitcoin Depot

An institutional investor recently raised its position in Bitcoin Depot stock. Renaissance Technologies LLC boosted its holdings in Bitcoin Depot Inc. (NASDAQ:BTM) by 122.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,300 shares of the company’s stock after purchasing an additional 26,000 shares during the quarter. Renaissance Technologies LLC owned 0.08% of Bitcoin Depot worth $85,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.18% of the company’s stock.

Insider Activity

In other news, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total value of $31,200.00. Following the completion of the transaction, the chief operating officer now owns 241,276 shares of the company’s stock, valued at $376,390.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 50,100 shares of company stock valued at $77,051 in the last quarter. Company insiders own 70.23% of the company’s stock.

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.