B. Riley Issues Positive Outlook for Bitcoin Depot Earnings

Bitcoin Depot Inc. (NASDAQ:BTM) – B. Riley boosted their FY2024 EPS estimates for shares of Bitcoin Depot in a research report issued to clients and investors on Thursday, November 14th. B. Riley analyst H. Goetsch now anticipates that the company will post earnings per share of $0.11 for the year, up from their previous estimate of ($0.01). The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share. B. Riley also issued estimates for Bitcoin Depot’s Q4 2024 earnings at $0.04 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.05 EPS and Q4 2025 earnings at $0.07 EPS.

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

Bitcoin Depot Stock Down 3.5 %

Shares of NASDAQ:BTM opened at $1.93 on Monday. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a fifty day moving average of $1.64 and a 200 day moving average of $1.71. Bitcoin Depot has a 52-week low of $1.33 and a 52-week high of $3.70. The firm has a market capitalization of $116.02 million, a PE ratio of -2.08 and a beta of -0.33.

Insider Activity at Bitcoin Depot

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 value of $31,200.00. Following the sale, the chief operating officer now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 50,100 shares of company stock worth $77,051 over the last ninety days. 70.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bitcoin Depot

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after buying an additional 26,000 shares during the last quarter. Walleye Capital LLC lifted its holdings in shares of Bitcoin Depot by 110.1% during the 3rd 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 during the period. Finally, Shaolin Capital Management LLC lifted its holdings in 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 acquiring an additional 49,600 shares during the period. 9.18% of the stock is owned by 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.