Bitcoin Depot (NASDAQ:BTM) Upgraded at Wall Street Zen

Bitcoin Depot (NASDAQ:BTM) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

A number of other research analysts have also recently commented on BTM. Noble Financial reissued an “outperform” rating on shares of Bitcoin Depot in a research note on Tuesday, March 17th. HC Wainwright increased their price target on shares of Bitcoin Depot from $3.50 to $4.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. B. Riley Financial lifted their target price on shares of Bitcoin Depot to $4.20 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.40.

Bitcoin Depot Stock Down 7.4%

Shares of NASDAQ:BTM opened at $2.63 on Friday. The firm has a fifty day moving average price of $4.44 and a two-hundred day moving average price of $10.88. The company has a market cap of $29.27 million, a price-to-earnings ratio of 1.38 and a beta of 1.26. The company has a debt-to-equity ratio of 4.72, a current ratio of 1.26 and a quick ratio of 1.26. Bitcoin Depot has a one year low of $1.90 and a one year high of $48.16.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings results on Monday, March 16th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.71). The business had revenue of $116.04 million for the quarter, compared to the consensus estimate of $113.93 million. Bitcoin Depot had a negative net margin of 0.94% and a negative return on equity of 70.95%.

Institutional Trading of Bitcoin Depot

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings 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 in the last quarter. Cetera Investment Advisers purchased a new position in shares of Bitcoin Depot during the 2nd quarter worth approximately $51,000. Kestra Private Wealth Services LLC purchased a new position in shares of Bitcoin Depot during the 3rd quarter worth approximately $36,000. Qube Research & Technologies Ltd bought a new position in shares of Bitcoin Depot in the 2nd quarter worth approximately $74,000. Finally, Man Group plc purchased a new position in shares of Bitcoin Depot in the 2nd quarter valued at approximately $84,000. Institutional investors own 9.18% of the company’s stock.

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.