Bitcoin Depot Inc. (NASDAQ:BTM) Receives $4.10 Average Price Target from Analysts

Bitcoin Depot Inc. (NASDAQ:BTM) has been given an average rating of “Reduce” by the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.10.

Several brokerages have issued reports on BTM. Noble Financial lowered Bitcoin Depot from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered Bitcoin Depot from a “sell” rating to a “strong sell” rating in a research note on Sunday, April 19th. HC Wainwright lowered Bitcoin Depot from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 19th. Finally, B. Riley Financial upped their target price on Bitcoin Depot to $4.20 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th.

Institutional Trading of Bitcoin Depot

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in Bitcoin Depot in the fourth quarter valued at approximately $45,000. Aristides Capital LLC bought a new stake in Bitcoin Depot in the fourth quarter valued at approximately $137,000. Invesco Ltd. lifted its position in Bitcoin Depot by 125.0% in the fourth quarter. Invesco Ltd. now owns 177,046 shares of the company’s stock valued at $228,000 after purchasing an additional 98,372 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Bitcoin Depot in the fourth quarter valued at approximately $210,000. Finally, Owl Creek Asset Management L.P. bought a new stake in Bitcoin Depot in the fourth quarter valued at approximately $1,935,000. Institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Price Performance

BTM stock opened at $0.49 on Friday. The stock has a market cap of $5.47 million, a price-to-earnings ratio of 0.26 and a beta of 3.12. The company’s 50 day moving average is $2.33 and its 200 day moving average is $4.89. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 4.72. Bitcoin Depot has a 1-year low of $0.45 and a 1-year high of $48.16.

Bitcoin Depot Company Profile

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.