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

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $5.8333.

BTM has been the subject of a number of recent research reports. B. Riley Financial lowered Bitcoin Depot from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Wall Street Zen lowered shares of Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Wednesday, January 21st.

Bitcoin Depot Stock Performance

NASDAQ BTM opened at $0.89 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $65.20 million, a P/E ratio of 3.89 and a beta of 0.87. The stock has a 50-day moving average of $1.16 and a two-hundred day moving average of $2.39. Bitcoin Depot has a 1-year low of $0.76 and a 1-year high of $6.88.

Bitcoin Depot shares are set to reverse split on the morning of Monday, February 23rd. The 1-7 reverse split was announced on Thursday, February 19th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, February 20th.

Institutional Investors Weigh In On Bitcoin Depot

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC purchased a new position in shares of Bitcoin Depot during the third quarter worth about $36,000. Caitong International Asset Management Co. Ltd purchased a new position in Bitcoin Depot during the 4th quarter worth $45,000. Bank of America Corp DE grew its position in Bitcoin Depot by 11,320.0% during 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 in the second quarter valued at $51,000. Finally, Engineers Gate Manager LP raised its holdings in shares of Bitcoin Depot by 229.5% in the fourth quarter. Engineers Gate Manager LP now owns 47,543 shares of the company’s stock valued at $61,000 after buying an additional 33,112 shares during the last quarter. 9.18% of the stock is owned by hedge funds and other institutional investors.

About Bitcoin Depot

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.