Bitcoin Depot (NASDAQ:BTM) Rating Increased to Strong-Buy at Noble Financial

Noble Financial upgraded shares of Bitcoin Depot (NASDAQ:BTM) to a strong-buy rating in a research report report published on Thursday, Zacks.com reports.

Separately, HC Wainwright decreased 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.

Bitcoin Depot Stock Up 4.7 %

Bitcoin Depot stock opened at $1.56 on Thursday. Bitcoin Depot has a fifty-two week low of $1.33 and a fifty-two week high of $3.70. 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’s 50-day simple moving average is $1.59 and its 200 day simple moving average is $1.72. The stock has a market cap of $93.00 million, a PE ratio of -0.83 and a beta of -0.35.

Bitcoin Depot (NASDAQ:BTM) last announced its earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The business had revenue of $163.07 million during the quarter, compared to analysts’ expectations of $148.49 million. Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%. Research analysts predict that Bitcoin Depot will post -0.09 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Andrew Mitchell Paul bought 38,560 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $1.70 per share, with a total value of $65,552.00. Following the completion of the transaction, the insider now directly owns 155,786 shares of the company’s stock, valued at $264,836.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot 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 completion of the transaction, the chief operating officer now owns 241,276 shares in the company, valued at $376,390.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Andrew Mitchell Paul purchased 38,560 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $1.70 per share, for a total transaction of $65,552.00. Following the completion of the purchase, the insider now directly owns 155,786 shares in the company, valued at $264,836.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 155,786 shares of company stock valued at $257,817 and sold 70,100 shares valued at $109,637. Insiders own 20.09% of the company’s stock.

Institutional Investors Weigh In On Bitcoin Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of BTM. Privium Fund Management UK Ltd purchased a new position in Bitcoin Depot during the 1st quarter valued at about $60,000. Renaissance Technologies LLC boosted its position in shares of Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after acquiring an additional 26,000 shares during the period. Finally, Shaolin Capital Management LLC grew its stake in Bitcoin Depot by 7.6% during 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 in the last quarter. Institutional investors own 9.18% of the company’s stock.

About Bitcoin Depot

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.