Bitcoin Depot Inc. (NASDAQ:BTM) Receives $5.83 Consensus Price Target from Analysts

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $5.8333.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Bitcoin Depot by 11,320.0% during the 2nd quarter. Bank of America Corp DE now owns 9,707 shares of the company’s stock worth $49,000 after buying an additional 9,622 shares during the last quarter. Cetera Investment Advisers purchased a new position in Bitcoin Depot during the 2nd quarter valued at about $51,000. Kestra Private Wealth Services LLC acquired a new position in Bitcoin Depot during the third quarter worth about $36,000. Qube Research & Technologies Ltd purchased a new stake in shares of Bitcoin Depot in the second quarter valued at about $74,000. Finally, Truist Financial Corp acquired a new stake in shares of Bitcoin Depot in the second quarter valued at approximately $71,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Stock Down 1.8%

Bitcoin Depot stock opened at $1.08 on Tuesday. The stock’s 50 day moving average price is $1.34 and its 200 day moving average price is $2.88. Bitcoin Depot has a 1-year low of $0.93 and a 1-year high of $6.88. The company has a market cap of $78.69 million, a PE ratio of 4.70 and a beta of 0.87. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.88 and a quick ratio of 1.88.

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

About Bitcoin Depot

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.