FY2024 EPS Estimates for Bitcoin Depot Increased by Analyst

Bitcoin Depot Inc. (NASDAQ:BTM) – Research analysts at Noble Financial boosted their FY2024 earnings estimates for Bitcoin Depot in a research report issued to clients and investors on Thursday, November 14th. Noble Financial analyst P. Mccann now anticipates that the company will earn $0.03 per share for the year, up from their previous estimate of $0.02. Noble Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share.

Separately, HC Wainwright lowered their target price on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, August 15th.

Bitcoin Depot Stock Performance

BTM opened at $2.00 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 9.33. The business’s 50 day moving average is $1.63 and its 200-day moving average is $1.71. The stock has a market cap of $120.23 million, a PE ratio of -2.15 and a beta of -0.33. Bitcoin Depot has a twelve month low of $1.33 and a twelve month high of $3.70.

Bitcoin Depot (NASDAQ:BTM) last posted its earnings results on Thursday, August 15th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). Bitcoin Depot had a negative return on equity of 213.00% and a negative net margin of 2.28%. The firm had revenue of $163.07 million during the quarter, compared to the consensus estimate of $148.49 million.

Hedge Funds Weigh In On Bitcoin Depot

Several hedge funds have recently modified their holdings of BTM. Walleye Capital LLC boosted its stake in Bitcoin Depot by 110.1% during the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after buying an additional 12,337 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after acquiring an additional 26,000 shares during the last quarter. Finally, Shaolin Capital Management LLC boosted its position in shares of Bitcoin Depot by 7.6% during the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after purchasing an additional 49,600 shares in the last quarter. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bitcoin Depot

In related news, COO Christopher Scott Buchanan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total transaction of $31,200.00. Following the sale, the chief operating officer now owns 241,276 shares of the company’s stock, valued at $376,390.56. The trade was a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 50,100 shares of company stock valued at $77,051. Company insiders own 70.23% of the company’s stock.

Bitcoin Depot Company Profile

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.