Bitcoin Depot Inc. (NASDAQ:BTM) Receives Consensus Rating of "Buy" from Brokerages

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) has earned a consensus rating of "Buy" from the five analysts that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.83.

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

Bitcoin Depot Stock Performance

Shares of Bitcoin Depot stock traded up $0.01 during trading hours on Friday, hitting $5.54. The company's stock had a trading volume of 1,206,796 shares, compared to its average volume of 813,531. The business has a 50 day moving average price of $4.32 and a two-hundred day moving average price of $2.44. Bitcoin Depot has a 12-month low of $0.93 and a 12-month high of $6.88. The company has a market cap of $356.28 million, a PE ratio of -29.16 and a beta of 0.87.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.11. The firm had revenue of $164.23 million during the quarter, compared to analysts' expectations of $151.67 million.

Institutional Investors Weigh In On Bitcoin Depot

Large investors have recently added to or reduced their stakes in the stock. Blue Owl Capital Holdings LP grew its stake in shares of Bitcoin Depot by 480.0% during the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company's stock valued at $29,000 after buying an additional 15,000 shares during the last quarter. Verdence Capital Advisors LLC bought a new position in shares of Bitcoin Depot during the first quarter valued at approximately $73,000. Baader Bank Aktiengesellschaft bought a new position in shares of Bitcoin Depot during the second quarter valued at approximately $259,000. Renaissance Technologies LLC grew its stake in shares of 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. Finally, Two Sigma Advisers LP bought a new position in shares of Bitcoin Depot during the fourth quarter valued at approximately $267,000. 9.18% of the stock is owned by institutional investors.

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.