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

Key Points

• Analysts have a consensus rating of "Hold" on Bitcoin Depot (6 analysts: 1 sell, 2 hold, 3 buy) with an average 12-month price target of $14.40.
• Recent research actions are mixed—some firms raised targets or gave buy/neutral ratings (HC Wainwright to $4 buy; B. Riley $4.20 neutral; Noble outperform) while others reiterated downgrades (Weiss sell; Wall Street Zen to strong sell).
• Company fundamentals show weakness: Bitcoin Depot reported a quarterly EPS loss of ($1.18) vs. an expected ($0.47) and faces high leverage (debt/equity 4.72), while the stock trades around $5.33 with a market cap of about $59.3M and analysts forecast -2.12 EPS for the year.

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) has been assigned a consensus rating of "Hold" from the six analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $14.40.

A number of research firms recently commented on BTM. HC Wainwright lifted their price target on Bitcoin Depot from $3.50 to $4.00 and gave the stock a "buy" rating in a research note on Wednesday, March 25th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Bitcoin Depot in a research note on Wednesday, January 21st. Noble Financial reiterated an "outperform" rating on shares of Bitcoin Depot in a research note on Tuesday, March 17th. B. Riley Financial lifted their price target on Bitcoin Depot to $4.20 and gave the stock a "neutral" rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen downgraded Bitcoin Depot from a "sell" rating to a "strong sell" rating in a research note on Sunday, April 19th.

Hedge Funds Weigh In On Bitcoin Depot

A number of large investors have recently bought and sold shares of BTM. Owl Creek Asset Management L.P. bought a new position in Bitcoin Depot in the fourth quarter worth about $1,935,000. Sabby Management LLC bought a new position in Bitcoin Depot in the fourth quarter worth about $1,292,000. Marshall Wace LLP bought a new position in Bitcoin Depot in the second quarter worth about $4,097,000. Vanguard Group Inc. lifted its holdings in Bitcoin Depot by 54.9% in the third quarter. Vanguard Group Inc. now owns 951,318 shares of the company's stock worth $3,196,000 after acquiring an additional 337,070 shares during the last quarter. Finally, Welch Capital Partners LLC NY lifted its holdings in Bitcoin Depot by 33.0% in the second quarter. Welch Capital Partners LLC NY now owns 1,285,190 shares of the company's stock worth $6,516,000 after acquiring an additional 318,940 shares during the last quarter. Institutional investors own 9.18% of the company's stock.

Bitcoin Depot Stock Down 9.4%

NASDAQ:BTM opened at $5.33 on Thursday. The company has a market capitalization of $59.32 million, a price-to-earnings ratio of 2.81 and a beta of 3.12. Bitcoin Depot has a one year low of $1.90 and a one year high of $48.16. The stock has a 50-day simple moving average of $4.34 and a 200 day simple moving average of $8.65. The company has a debt-to-equity ratio of 4.72, a quick ratio of 1.26 and a current ratio of 1.26.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last posted its quarterly earnings results on Monday, March 16th. The company reported ($1.18) EPS for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.71). The firm had revenue of $116.04 million during the quarter, compared to analyst estimates of $113.93 million. Bitcoin Depot had a negative return on equity of 70.95% and a negative net margin of 0.94%. Sell-side analysts predict that Bitcoin Depot will post -2.12 EPS for the current fiscal year.

About Bitcoin Depot

Bitcoin Depot, Inc operates one of the largest networks of self-service cryptocurrency kiosks in North America, enabling customers to buy and sell Bitcoin and other digital assets using cash or debit cards. Through a partnership model with convenience stores, gas stations and retail outlets, the company provides an accessible on-ramp and off-ramp for individuals entering the cryptocurrency market without requiring a bank account or extensive technical knowledge. Transactions are completed in real time at the point of sale, with verification and receipt provided via email or mobile phone.

Founded in 2016 and headquartered in Atlanta, Georgia, Bitcoin Depot began as a privately held startup focused on expanding retail access to digital currencies.

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