Bitcoin Depot Inc. (NASDAQ:BTM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $5.8333.

Several research firms have recently weighed in on BTM. B. Riley lifted their price objective on Bitcoin Depot from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Zacks Research cut shares of Bitcoin Depot from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. HC Wainwright boosted their price objective on shares of Bitcoin Depot from $5.00 to $6.50 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Bitcoin Depot in a research report on Wednesday, October 8th.

Bitcoin Depot Trading Down 5.6%

BTM stock opened at $2.51 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 12.34. The company has a market cap of $170.88 million, a price-to-earnings ratio of 25.10 and a beta of 0.79. The business has a fifty day simple moving average of $3.23 and a 200-day simple moving average of $3.92. Bitcoin Depot has a 52 week low of $0.93 and a 52 week high of $6.88.

Bitcoin Depot (NASDAQ:BTM) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $172.11 million for the quarter, compared to analysts’ expectations of $168.00 million. Bitcoin Depot had a net margin of 0.44% and a negative return on equity of 44.12%.

Insider Transactions at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 7,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $3.82, for a total value of $26,740.00. Following the transaction, the chief operating officer directly owned 133,276 shares of the company’s stock, valued at $509,114.32. This trade represents a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 21,000 shares of company stock valued at $70,280. 70.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Bitcoin Depot

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Verdence Capital Advisors LLC purchased a new position in Bitcoin Depot in the first quarter valued at about $73,000. Welch Capital Partners LLC NY raised its position in shares of Bitcoin Depot by 85.1% in the 1st quarter. Welch Capital Partners LLC NY now owns 966,250 shares of the company’s stock valued at $1,459,000 after purchasing an additional 444,177 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of Bitcoin Depot during the 2nd quarter valued at approximately $259,000. Truist Financial Corp purchased a new position in shares of Bitcoin Depot during the 2nd quarter valued at approximately $71,000. Finally, Geode Capital Management LLC grew its position in shares of Bitcoin Depot by 35.9% during the second quarter. Geode Capital Management LLC now owns 171,606 shares of the company’s stock worth $870,000 after buying an additional 45,300 shares in the last quarter. 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.