Analysts Set Bitcoin Depot Inc. (NASDAQ:BTM) Price Target at $4.83

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have been given an average rating of “Buy” by the five brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $4.83.

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Bitcoin Depot from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Northland Securities upgraded shares of Bitcoin Depot from a “market perform” rating to an “outperform” rating and set a $5.00 price target for the company in a research report on Friday, May 16th. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Bitcoin Depot in a research note on Tuesday, March 18th. Northland Capmk upgraded Bitcoin Depot from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 16th. Finally, B. Riley raised their price target on Bitcoin Depot from $4.70 to $5.50 and gave the company a “buy” rating in a report on Friday, May 16th.

Bitcoin Depot Trading Down 4.8%

Shares of BTM stock opened at $3.34 on Thursday. Bitcoin Depot has a 1 year low of $0.93 and a 1 year high of $3.75. The company’s fifty day simple moving average is $1.67 and its two-hundred day simple moving average is $1.65. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $213.56 million, a price-to-earnings ratio of -3.59 and a beta of -0.27.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. The business had revenue of $164.23 million for the quarter, compared to analysts’ expectations of $151.67 million. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 2.28%.

Insider Buying and Selling at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 29,524 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.44, for a total transaction of $42,514.56. Following the transaction, the chief operating officer now directly owns 189,752 shares of the company’s stock, valued at approximately $273,242.88. This trade represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 70.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Welch Capital Partners LLC NY raised its stake in shares of Bitcoin Depot by 480.1% during the fourth quarter. Welch Capital Partners LLC NY now owns 522,073 shares of the company’s stock valued at $846,000 after acquiring an additional 432,073 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Bitcoin Depot by 96.4% during the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock valued at $237,000 after purchasing an additional 71,700 shares during the period. Blue Owl Capital Holdings LP raised its position in Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock valued at $29,000 after purchasing an additional 15,000 shares during the last quarter. Radcliffe Capital Management L.P. raised its position in Bitcoin Depot by 134.3% during the 4th quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock valued at $463,000 after purchasing an additional 163,854 shares during the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in Bitcoin Depot in the 1st quarter worth approximately $73,000. 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.