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

Bitcoin Depot Inc. (NASDAQ:BTM) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.8333.

Several research analysts have issued reports on the stock. B. Riley downgraded shares of Bitcoin Depot from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Wall Street Zen cut shares of Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Bitcoin Depot

Several large investors have recently added to or reduced their stakes in BTM. Bank of America Corp DE grew its position in Bitcoin Depot by 11,320.0% in the 2nd quarter. Bank of America Corp DE now owns 9,707 shares of the company’s stock worth $49,000 after purchasing an additional 9,622 shares during the last quarter. Cetera Investment Advisers acquired a new position in Bitcoin Depot during the second quarter valued at approximately $51,000. Kestra Private Wealth Services LLC bought a new position in shares of Bitcoin Depot in the third quarter valued at approximately $36,000. Qube Research & Technologies Ltd bought a new position in shares of Bitcoin Depot in the second quarter valued at approximately $74,000. Finally, Truist Financial Corp acquired a new stake in shares of Bitcoin Depot in the second quarter worth $71,000. 9.18% of the stock is owned by institutional investors and hedge funds.

Bitcoin Depot Trading Down 2.3%

BTM opened at $1.29 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.88 and a current ratio of 1.88. Bitcoin Depot has a one year low of $0.93 and a one year high of $6.88. The company has a market cap of $93.99 million, a P/E ratio of 5.61 and a beta of 0.87. The business’s 50-day simple moving average is $1.80 and its 200-day simple moving average is $3.49.

Bitcoin Depot (NASDAQ:BTM) last announced its quarterly 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. Bitcoin Depot had a return on equity of 791.02% and a net margin of 1.44%.The firm had revenue of $162.48 million during the quarter, compared to the consensus estimate of $153.11 million.

Bitcoin Depot Company Profile

Bitcoin Depot, Inc operates one of the largest networks of self-service cryptocurrency kiosks in North America, enabling customers to buy and sell Bitcoin and other digital assets using cash or debit cards. Through a partnership model with convenience stores, gas stations and retail outlets, the company provides an accessible on-ramp and off-ramp for individuals entering the cryptocurrency market without requiring a bank account or extensive technical knowledge. Transactions are completed in real time at the point of sale, with verification and receipt provided via email or mobile phone.

Founded in 2016 and headquartered in Atlanta, Georgia, Bitcoin Depot began as a privately held startup focused on expanding retail access to digital currencies.