Bitcoin Depot Inc. (NASDAQ:BTM) Receives $4.83 Average Target Price from Brokerages

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

Several brokerages have recently issued reports on BTM. Northland Securities raised 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 report on Friday, May 16th. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 target price on shares of Bitcoin Depot in a research report on Tuesday, March 18th. B. Riley boosted their price target on Bitcoin Depot from $4.70 to $5.50 and gave the stock a "buy" rating in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, Northland Capmk upgraded shares of Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a report on Friday, May 16th.

Insider Activity at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 20,476 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $1.33, for a total transaction of $27,233.08. Following the sale, the chief operating officer now owns 169,276 shares in the company, valued at approximately $225,137.08. This trade represents a 10.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 70.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BTM. Welch Capital Partners LLC NY increased its position in Bitcoin Depot by 85.1% during the 1st quarter. Welch Capital Partners LLC NY now owns 966,250 shares of the company's stock valued at $1,459,000 after buying an additional 444,177 shares in the last quarter. Two Sigma Investments LP bought a new stake in Bitcoin Depot during the 4th quarter worth approximately $427,000. Two Sigma Advisers LP purchased a new position in shares of Bitcoin Depot in the fourth quarter valued at about $267,000. Radcliffe Capital Management L.P. boosted its position in shares of Bitcoin Depot by 134.3% during the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company's stock worth $463,000 after acquiring an additional 163,854 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Bitcoin Depot by 96.4% during the fourth quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock valued at $237,000 after buying an additional 71,700 shares during the last quarter. Hedge funds and other institutional investors own 9.18% of the company's stock.

Bitcoin Depot Price Performance

BTM stock traded up $0.34 during trading on Thursday, hitting $3.68. The company had a trading volume of 2,261,778 shares, compared to its average volume of 567,877. The company has a fifty day moving average price of $1.67 and a two-hundred day moving average price of $1.65. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 9.33. Bitcoin Depot has a fifty-two week low of $0.93 and a fifty-two week high of $3.75. The company has a market cap of $234.98 million, a P/E ratio of -3.94 and a beta of -0.27.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.11. The firm had revenue of $164.23 million for the quarter, compared to analyst estimates of $151.67 million. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 2.28%.

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.