Bitcoin Depot Inc. (NASDAQ:BTM) Given Consensus Recommendation of "Buy" by Analysts

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) has received a consensus rating of "Buy" from the five analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $4.83.

Several brokerages recently commented on BTM. B. Riley upped their price target on shares of Bitcoin Depot from $4.70 to $5.50 and gave the company a "buy" rating in a report on Friday, May 16th. Wall Street Zen upgraded Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research report on Thursday. HC Wainwright reiterated a "buy" rating and issued a $4.00 price target on shares of Bitcoin Depot in a report on Tuesday, March 18th. Northland Securities upgraded Bitcoin Depot from a "market perform" rating to an "outperform" rating and set a $5.00 price objective for the company in a report on Friday, May 16th. Finally, Northland Capmk raised Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 16th.

Bitcoin Depot Trading Up 10.9%

Shares of NASDAQ:BTM traded up $0.33 during trading on Thursday, hitting $3.35. The company had a trading volume of 1,475,823 shares, compared to its average volume of 517,326. The stock has a market cap of $214.07 million, a price-to-earnings ratio of -3.65 and a beta of -0.27. 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 company has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $1.61. Bitcoin Depot has a one year low of $0.93 and a one year high of $3.60.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last issued its quarterly earnings results 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. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 2.28%. The company had revenue of $164.23 million during the quarter, compared to the consensus estimate of $151.67 million.

Insider Activity

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

Institutional Investors Weigh In On Bitcoin Depot

Several institutional investors have recently bought and sold shares of BTM. Welch Capital Partners LLC NY boosted its position in shares of Bitcoin Depot by 85.1% in the 1st quarter. Welch Capital Partners LLC NY now owns 966,250 shares of the company's stock worth $1,459,000 after purchasing an additional 444,177 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Bitcoin Depot during the fourth quarter worth about $427,000. Two Sigma Advisers LP acquired a new position in shares of Bitcoin Depot during the fourth quarter valued at about $267,000. Radcliffe Capital Management L.P. raised its position in shares of Bitcoin Depot by 134.3% in 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, Renaissance Technologies LLC boosted its stake in Bitcoin Depot by 96.4% in 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 in the last quarter. 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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