Bitcoin Depot’s (BTM) “Buy” Rating Reiterated at B. Riley

Bitcoin Depot (NASDAQ:BTM)‘s stock had its “buy” rating reissued by B. Riley in a report released on Wednesday,Benzinga reports. They currently have a $4.70 target price on the stock, up from their previous target price of $4.50. B. Riley’s price target would indicate a potential upside of 225.26% from the stock’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Bitcoin Depot in a research note on Tuesday.

Bitcoin Depot Stock Up 2.5 %

Shares of BTM traded up $0.04 during trading hours on Wednesday, hitting $1.45. 150,128 shares of the company were exchanged, compared to its average volume of 428,022. The company has a market cap of $87.26 million, a PE ratio of -1.55 and a beta of 0.10. The firm’s 50 day moving average is $1.44 and its 200-day moving average is $1.61. Bitcoin Depot has a 52 week low of $0.93 and a 52 week high of $3.52. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91.

Institutional Trading of Bitcoin Depot

Hedge funds have recently added to or reduced their stakes in the business. 272 Capital LP bought a new stake in Bitcoin Depot during the 3rd quarter valued at approximately $401,000. Walleye Capital LLC lifted its position in shares of Bitcoin Depot by 110.1% in the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after acquiring an additional 12,337 shares during the period. Two Sigma Investments LP bought a new stake in shares of Bitcoin Depot in the 4th quarter worth approximately $427,000. Two Sigma Advisers LP bought a new stake in shares of Bitcoin Depot in the 4th quarter worth approximately $267,000. Finally, Welch Capital Partners LLC NY lifted its position in shares of Bitcoin Depot by 480.1% in the 4th quarter. Welch Capital Partners LLC NY now owns 522,073 shares of the company’s stock worth $846,000 after acquiring an additional 432,073 shares during the period. Institutional investors own 9.18% 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.