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

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) has received an average recommendation of "Buy" from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $4.8333.

Several analysts recently commented on BTM shares. Noble Financial reissued an "outperform" rating on shares of Bitcoin Depot in a research note on Friday, June 13th. 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. Northland Securities raised Bitcoin Depot from a "market perform" rating to an "outperform" rating and set a $5.00 target price for the company in a report on Friday, May 16th. Northland Capmk raised Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised shares of Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 22nd.

Hedge Funds Weigh In On Bitcoin Depot

A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings 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 worth $237,000 after purchasing an additional 71,700 shares during the period. Radcliffe Capital Management L.P. increased its stake in shares of Bitcoin Depot by 134.3% in 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. Blue Owl Capital Holdings LP raised its holdings 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 worth $29,000 after acquiring an additional 15,000 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Bitcoin Depot during the fourth quarter valued at $427,000. Finally, Two Sigma Advisers LP acquired a new position in Bitcoin Depot in the 4th quarter worth about $267,000. Institutional investors and hedge funds own 9.18% of the company's stock.

Bitcoin Depot Stock Performance

Shares of Bitcoin Depot stock traded down $0.06 during trading on Tuesday, hitting $4.86. 481,050 shares of the stock were exchanged, compared to its average volume of 981,955. The stock's fifty day moving average is $5.37 and its 200 day moving average is $2.91. The stock has a market cap of $312.80 million, a PE ratio of -25.60 and a beta of 0.86. Bitcoin Depot has a 12 month low of $0.93 and a 12 month high of $6.88.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $151.67 million.

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.