Bitcoin Depot Inc. (NASDAQ:BTM) COO Christopher Scott Buchanan Sells 22,000 Shares

Key Points

• Christopher Scott Buchanan, COO of Bitcoin Depot Inc. (NASDAQ: BTM), sold 22,000 shares at an average price of $4.21, reducing his stake by 13% in the company.
• Bitcoin Depot's quarterly earnings report revealed an EPS of $0.16, which fell short of analyst expectations, despite revenues of $172.11 million surpassing estimates.
• Several brokerages have upgraded Bitcoin Depot's stock rating, with price targets now ranging from $5.00 to $6.50, indicating a positive outlook from market analysts.

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) COO Christopher Scott Buchanan sold 22,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $4.21, for a total transaction of $92,620.00. Following the completion of the sale, the chief operating officer directly owned 147,276 shares in the company, valued at approximately $620,031.96. The trade was a 13.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bitcoin Depot Price Performance

Shares of BTM stock traded down $0.03 during trading hours on Monday, reaching $4.04. 980,260 shares of the company were exchanged, compared to its average volume of 999,689. Bitcoin Depot Inc. has a fifty-two week low of $0.93 and a fifty-two week high of $6.88. The stock's fifty day moving average is $5.38 and its two-hundred day moving average is $3.04. The company has a market cap of $259.81 million, a price-to-earnings ratio of 40.40 and a beta of 0.86. The company has a debt-to-equity ratio of 12.34, a current ratio of 1.41 and a quick ratio of 1.41.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $168.00 million. Bitcoin Depot had a net margin of 0.44% and a negative return on equity of 44.12%.

Analysts Set New Price Targets

Several brokerages have weighed in on BTM. Noble Financial reaffirmed an "outperform" rating on shares of Bitcoin Depot in a research note on Friday, June 13th. HC Wainwright upped their price objective on shares of Bitcoin Depot from $5.00 to $6.50 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded shares of Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. B. Riley upped their target price on shares of Bitcoin Depot from $4.70 to $5.50 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Northland Securities upgraded shares of Bitcoin Depot from a "market perform" rating to an "outperform" rating and set a $5.00 target price on the stock in a research report on Friday, May 16th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Bitcoin Depot has a consensus rating of "Buy" and a consensus price target of $5.67.

Institutional Investors Weigh In On Bitcoin Depot

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of Bitcoin Depot by 96.4% during the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock worth $237,000 after purchasing an additional 71,700 shares during the last quarter. Radcliffe Capital Management L.P. increased its stake in shares of Bitcoin Depot by 134.3% during the 4th quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company's stock worth $463,000 after purchasing an additional 163,854 shares during the last quarter. Blue Owl Capital Holdings LP increased its stake in shares of Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company's stock worth $29,000 after purchasing an additional 15,000 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Bitcoin Depot during the 4th quarter worth about $427,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Bitcoin Depot during the 4th quarter worth about $267,000. 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. 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.

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