Bitcoin Depot Q3 EPS Forecast Boosted by Northland Capmk

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at Northland Capmk boosted their Q3 2024 EPS estimates for shares of Bitcoin Depot in a report released on Thursday, November 14th. Northland Capmk analyst M. Grondahl now forecasts that the company will post earnings per share of $0.13 for the quarter, up from their previous estimate of $0.02. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share. Northland Capmk also issued estimates for Bitcoin Depot’s Q4 2024 earnings at ($0.06) EPS and FY2024 earnings at ($0.16) EPS.

A number of other brokerages also recently commented on BTM. Noble Financial upgraded shares of Bitcoin Depot to a “strong-buy” rating in a research note on Thursday, October 17th. HC Wainwright reduced their price target on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Bitcoin Depot Stock Performance

NASDAQ:BTM opened at $1.93 on Monday. The company has a fifty day simple moving average of $1.64 and a two-hundred day simple moving average of $1.71. The company has a market cap of $116.02 million, a price-to-earnings ratio of -2.08 and a beta of -0.33. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 9.33. Bitcoin Depot has a 52 week low of $1.33 and a 52 week high of $3.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC grew its position in shares of Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after purchasing an additional 12,337 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Shaolin Capital Management LLC grew its position in shares of Bitcoin Depot by 7.6% in the first 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 during the last quarter. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total transaction of $31,200.00. Following the transaction, the chief operating officer now directly owns 241,276 shares in the company, valued at approximately $376,390.56. This represents a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 50,100 shares of company stock valued at $77,051 over the last ninety days. Corporate insiders own 70.23% of the company’s stock.

About Bitcoin Depot

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.