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

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have been given a consensus recommendation of “Hold” by the six research firms that are presently covering the stock, MarketBeat 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 12 month price objective among brokerages that have issued ratings on the stock in the last year is $5.8333.

A number of equities research analysts have recently weighed in on BTM shares. Wall Street Zen downgraded Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bitcoin Depot in a research report on Wednesday, January 21st. Finally, B. Riley cut shares of Bitcoin Depot from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th.

Bitcoin Depot Stock Down 8.3%

Shares of BTM opened at $1.10 on Tuesday. The firm has a market cap of $80.15 million, a P/E ratio of 4.78 and a beta of 0.87. 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 52 week low of $0.93 and a 52 week high of $6.88. The firm’s 50-day simple moving average is $1.38 and its 200 day simple moving average is $2.94.

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

Institutional Investors Weigh In On Bitcoin Depot

A number of large investors have recently added to or reduced their stakes in the stock. Heron Bay Capital Management acquired a new position in Bitcoin Depot in the second quarter valued at about $327,000. Truist Financial Corp bought a new position in Bitcoin Depot in the 2nd quarter valued at about $71,000. Evergreen Capital Management LLC acquired a new position in shares of Bitcoin Depot in the 2nd quarter valued at approximately $471,000. Man Group plc acquired a new position in shares of Bitcoin Depot in the 2nd quarter valued at approximately $84,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Bitcoin Depot during the 2nd quarter worth approximately $1,149,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

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.