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

Bitcoin Depot Inc. (NASDAQ:BTM) has been given an average rating of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $5.8333.

BTM has been the topic of several research reports. Zacks Research lowered shares of Bitcoin Depot from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. HC Wainwright boosted their target price on Bitcoin Depot from $5.00 to $6.50 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bitcoin Depot in a report on Wednesday, October 8th. B. Riley cut Bitcoin Depot from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Finally, Wall Street Zen downgraded Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th.

Bitcoin Depot Price Performance

Bitcoin Depot stock opened at $1.33 on Monday. The stock has a market capitalization of $96.90 million, a price-to-earnings ratio of 5.78 and a beta of 0.85. Bitcoin Depot has a 52-week low of $0.93 and a 52-week high of $6.88. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s 50 day moving average price is $2.51 and its two-hundred day moving average price is $3.90.

Bitcoin Depot (NASDAQ:BTM) last released its earnings results on Thursday, November 13th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The company had revenue of $162.48 million for the quarter, compared to the consensus estimate of $153.11 million. Bitcoin Depot had a net margin of 1.44% and a return on equity of 791.02%.

Insiders Place Their Bets

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 7,000 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $3.82, for a total transaction of $26,740.00. Following the transaction, the chief operating officer owned 133,276 shares in the company, valued at approximately $509,114.32. This represents a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 21,000 shares of company stock worth $55,580 in the last 90 days. Corporate insiders own 51.95% of the company’s stock.

Institutional Trading of Bitcoin Depot

Several institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP bought a new position in shares of Bitcoin Depot during the second quarter valued at about $4,097,000. Vanguard Group Inc. increased its stake in Bitcoin Depot by 54.9% in the 3rd quarter. Vanguard Group Inc. now owns 951,318 shares of the company’s stock valued at $3,196,000 after buying an additional 337,070 shares during the last quarter. Welch Capital Partners LLC NY lifted its position in shares of Bitcoin Depot by 33.0% during the 2nd quarter. Welch Capital Partners LLC NY now owns 1,285,190 shares of the company’s stock worth $6,516,000 after buying an additional 318,940 shares in the last quarter. Man Group plc boosted its stake in shares of Bitcoin Depot by 1,803.0% in the 3rd quarter. Man Group plc now owns 315,581 shares of the company’s stock worth $1,060,000 after buying an additional 298,998 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Bitcoin Depot in the second quarter valued at approximately $1,149,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

About Bitcoin Depot

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.