Bitcoin Depot Inc. to Post Q1 2024 Earnings of ($0.05) Per Share, Northland Capmk Forecasts (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Stock analysts at Northland Capmk issued their Q1 2024 earnings per share estimates for Bitcoin Depot in a research report issued to clients and investors on Monday, March 25th. Northland Capmk analyst M. Grondahl expects that the company will post earnings per share of ($0.05) for the quarter. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.69) per share. Northland Capmk also issued estimates for Bitcoin Depot’s Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.65 EPS.

Other analysts have also issued research reports about the stock. B. Riley lowered their target price on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday. Northland Securities initiated coverage on Bitcoin Depot in a research note on Wednesday, December 20th. They issued a “market perform” rating and a $3.50 price target for the company. Finally, HC Wainwright lowered their price objective on shares of Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday.

Bitcoin Depot Trading Down 0.8 %

Shares of NASDAQ:BTM opened at $1.90 on Thursday. The company has a 50 day moving average of $2.35 and a 200-day moving average of $2.47. Bitcoin Depot has a one year low of $1.88 and a one year high of $11.15. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.16.

Insider Buying and Selling

In related news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total transaction of $35,989.76. Following the transaction, the chief operating officer now directly owns 338,741 shares of the company’s stock, valued at approximately $840,077.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bitcoin Depot

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP acquired a new position in Bitcoin Depot in the fourth quarter valued at about $35,000. Cowen AND Company LLC bought a new stake in shares of Bitcoin Depot during the 3rd quarter worth approximately $35,000. Vanguard Group Inc. acquired a new stake in shares of Bitcoin Depot during the 3rd quarter worth approximately $45,000. Northern Trust Corp acquired a new position in Bitcoin Depot during the fourth quarter valued at approximately $61,000. Finally, Owl Creek Asset Management L.P. bought a new stake in Bitcoin Depot during the fourth quarter worth $68,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Bitcoin Depot Company Profile

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.