Q2 2024 EPS Estimates for Bitcoin Depot Inc. (NASDAQ:BTM) Reduced by Analyst

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at Noble Financial dropped their Q2 2024 earnings per share estimates for shares of Bitcoin Depot in a research report issued to clients and investors on Monday, April 22nd. Noble Financial analyst M. Kupinski now anticipates that the company will post earnings per share of $0.07 for the quarter, down from their previous estimate of $0.11. The consensus estimate for Bitcoin Depot’s current full-year earnings is $0.25 per share. Noble Financial also issued estimates for Bitcoin Depot’s Q3 2024 earnings at $0.12 EPS and FY2024 earnings at $0.32 EPS.

A number of other equities research analysts have also recently commented on BTM. B. Riley decreased their price objective on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. HC Wainwright decreased their price objective on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th.

Bitcoin Depot Price Performance

Shares of Bitcoin Depot stock opened at $1.90 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.13. Bitcoin Depot has a 12 month low of $1.36 and a 12 month high of $10.93. The business has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $2.36.

Institutional Trading of Bitcoin Depot

A number of institutional investors have recently modified their holdings of the company. Cowen AND Company LLC acquired a new stake in shares of Bitcoin Depot in the third quarter valued at about $35,000. Owl Creek Asset Management L.P. acquired a new stake in shares of Bitcoin Depot in the fourth quarter valued at about $68,000. Saba Capital Management L.P. acquired a new position in Bitcoin Depot during the third quarter worth approximately $305,000. Kepos Capital LP acquired a new position in Bitcoin Depot during the third quarter worth approximately $368,000. Finally, Exchange Traded Concepts LLC acquired a new position in Bitcoin Depot during the third quarter worth approximately $703,000. 9.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 14,512 shares of Bitcoin Depot stock in a transaction dated 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 in the company, valued at $840,077.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Brandon Taylor Mintz sold 50,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $1.73, for a total value of $86,500.00. Following the sale, the insider now directly owns 696,702 shares in the company, valued at $1,205,294.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the sale, the chief operating officer now owns 338,741 shares in the company, valued at $840,077.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,377 shares of company stock worth $247,591. Corporate insiders own 20.09% of the company’s stock.

About Bitcoin Depot

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.