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

Key Points

• Bitcoin Depot Inc. (NASDAQ:BTM) has received a consensus rating of "Buy" from five brokerages, with four giving a buy rating and one a strong buy rating.
• The average target price for Bitcoin Depot among analysts is $4.83, with Northland Securities setting a target of $5.00 and B. Riley adjusting theirs to $5.50.
• Recent institutional activity includes Blue Owl Capital increasing its stake by 480% and several new acquisitions, indicating growing interest in Bitcoin Depot's stock.

Shares of Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) have received a consensus recommendation of "Buy" from the five brokerages that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.8333.

BTM has been the topic of several research reports. 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 note on Friday, May 16th. B. Riley boosted their target price on Bitcoin Depot from $4.70 to $5.50 and gave the company a "buy" rating in a research note on Friday, May 16th. Northland Capmk raised Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 16th. Noble Financial reaffirmed an "outperform" rating on shares of Bitcoin Depot in a research report on Friday, June 13th. Finally, Wall Street Zen raised Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Blue Owl Capital Holdings LP lifted its holdings in Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company's stock valued at $29,000 after purchasing an additional 15,000 shares during the last quarter. Truist Financial Corp acquired a new stake in Bitcoin Depot during the 2nd quarter valued at $71,000. Verdence Capital Advisors LLC acquired a new stake in Bitcoin Depot during the 1st quarter valued at $73,000. Renaissance Technologies LLC lifted its holdings in Bitcoin Depot by 96.4% during the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock valued at $237,000 after purchasing an additional 71,700 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Bitcoin Depot during the 2nd quarter valued at $259,000. Institutional investors and hedge funds own 9.18% of the company's stock.

Bitcoin Depot Price Performance

NASDAQ:BTM opened at $5.00 on Tuesday. Bitcoin Depot has a fifty-two week low of $0.93 and a fifty-two week high of $6.88. The stock has a market capitalization of $321.55 million, a PE ratio of -26.32 and a beta of 0.86. The business's 50-day simple moving average is $5.29 and its 200-day simple moving average is $2.86.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.11. The business had revenue of $164.23 million for the quarter, compared to the consensus estimate of $151.67 million.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.