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

Key Points

• The consensus recommendation for Bitcoin Depot Inc. (NASDAQ:BTM) is a "Moderate Buy," with ratings from seven brokerages, including one sell, one hold, four buys, and one strong buy.
• The average one-year target price for Bitcoin Depot shares is $5.83, following recent upgrades from firms like HC Wainwright and B. Riley.
• Bitcoin Depot reported a net margin of 0.44% for the last quarter, alongside a revenue of $172.11 million, exceeding analyst estimates.

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $5.8333.

A number of brokerages have recently issued reports on BTM. HC Wainwright boosted their price target 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. Weiss Ratings reiterated a "sell (d+)" rating on shares of Bitcoin Depot in a research note on Wednesday, October 8th. B. Riley boosted their price target on shares of Bitcoin Depot from $5.50 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Finally, Zacks Research lowered shares of Bitcoin Depot from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th.

Bitcoin Depot Trading Up 2.3%

NASDAQ BTM opened at $2.63 on Friday. The company has a debt-to-equity ratio of 12.34, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $179.06 million, a PE ratio of 26.30 and a beta of 0.81. Bitcoin Depot has a one year low of $0.93 and a one year high of $6.88. The firm's fifty day moving average is $3.67 and its two-hundred day moving average is $3.73.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 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 analyst estimates of $168.00 million. Bitcoin Depot had a net margin of 0.44% and a negative return on equity of 44.12%.

Insider Activity

In other news, COO Christopher Scott Buchanan sold 22,000 shares of the business'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 transaction, the chief operating officer directly owned 147,276 shares in the company, valued at $620,031.96. The trade was a 13.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 36,000 shares of company stock worth $144,000 in the last quarter. Insiders own 70.23% of the company's stock.

Institutional Trading of Bitcoin Depot

A number of institutional investors have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC purchased a new stake in Bitcoin Depot during the second quarter worth about $471,000. Man Group plc purchased a new stake in Bitcoin Depot during the second quarter worth about $84,000. Lazard Asset Management LLC purchased a new stake in Bitcoin Depot during the second quarter worth about $1,149,000. Bank of America Corp DE boosted its holdings in Bitcoin Depot by 11,320.0% during the second quarter. Bank of America Corp DE now owns 9,707 shares of the company's stock worth $49,000 after buying an additional 9,622 shares in the last quarter. Finally, Welch Capital Partners LLC NY boosted its holdings in Bitcoin Depot by 33.0% during the second quarter. Welch Capital Partners LLC NY now owns 1,285,190 shares of the company's stock worth $6,516,000 after buying an additional 318,940 shares in the last quarter. Hedge funds and other 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.

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