Insider Selling: Bitcoin Depot (NASDAQ:BTM) COO Sells 7,000 Shares of Stock

Bitcoin Depot Inc. (NASDAQ:BTM) COO Christopher Scott Buchanan sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $3.82, for a total value of $26,740.00. Following the completion of the transaction, the chief operating officer directly owned 133,276 shares of the company’s stock, valued at approximately $509,114.32. This represents a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Christopher Scott Buchanan also recently made the following trade(s):

• On Friday, September 5th, Christopher Scott Buchanan sold 7,000 shares of Bitcoin Depot stock. The stock was sold at an average price of $3.52, for a total value of $24,640.00.
• On Thursday, August 14th, Christopher Scott Buchanan sold 22,000 shares of Bitcoin Depot stock. The stock was sold at an average price of $4.21, for a total value of $92,620.00.

Bitcoin Depot Trading Up 0.5%

Shares of Bitcoin Depot stock opened at $3.85 on Friday. Bitcoin Depot Inc. has a 1 year low of $0.93 and a 1 year high of $6.88. The firm has a market cap of $262.11 million, a PE ratio of 38.50 and a beta of 0.81. The stock has a fifty day moving average price of $4.03 and a 200-day moving average price of $3.61. The company has a debt-to-equity ratio of 12.34, a current ratio of 1.41 and a quick ratio of 1.41.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $172.11 million during the quarter, compared to analysts’ expectations of $168.00 million. Bitcoin Depot had a negative return on equity of 44.12% and a net margin of 0.44%.

Analysts Set New Price Targets

BTM has been the subject of a number of research reports. Zacks Research downgraded shares of Bitcoin Depot from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Saturday, September 27th. Noble Financial reissued an “outperform” rating on shares of Bitcoin Depot in a research report on Friday, June 13th. B. Riley boosted their target price on Bitcoin Depot from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HC Wainwright increased their price target on Bitcoin Depot from $5.00 to $6.50 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued 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 “Moderate Buy” and an average price target of $5.83.

Hedge Funds Weigh In On Bitcoin Depot

Several hedge funds have recently made changes to their positions in the stock. Welch Capital Partners LLC NY lifted its holdings in Bitcoin Depot by 33.0% during the 2nd quarter. Welch Capital Partners LLC NY now owns 1,285,190 shares of the company’s stock worth $6,516,000 after purchasing an additional 318,940 shares in the last quarter. Marshall Wace LLP purchased a new position in Bitcoin Depot during the 2nd quarter valued at about $4,097,000. Two Sigma Investments LP bought a new stake in shares of Bitcoin Depot during the fourth quarter valued at about $427,000. Lazard Asset Management LLC purchased a new stake in shares of Bitcoin Depot in the second quarter worth about $1,149,000. Finally, Geode Capital Management LLC boosted its position in shares of Bitcoin Depot by 35.9% in the second quarter. Geode Capital Management LLC now owns 171,606 shares of the company’s stock valued at $870,000 after acquiring an additional 45,300 shares during the period. 9.18% of the stock is currently owned by hedge funds and other institutional investors.

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.