Bitcoin Depot Inc. (NASDAQ:BTM) Receives $4.83 Average PT from Analysts

Shares of Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) have received an average rating of "Buy" from the five analysts that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $4.83.

A number of brokerages have recently weighed in on BTM. Northland Securities raised Bitcoin Depot from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a report on Friday, May 16th. Northland Capmk upgraded Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 16th. B. Riley increased their price target on shares of Bitcoin Depot from $4.70 to $5.50 and gave the stock a "buy" rating in a report on Friday, May 16th. Noble Financial reissued an "outperform" rating on shares of Bitcoin Depot in a research report on Friday, June 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Bitcoin Depot in a report on Tuesday, March 18th.

Insider Activity

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,476 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $1.33, for a total value of $27,233.08. Following the sale, the chief operating officer now owns 169,276 shares in the company, valued at approximately $225,137.08. This represents a 10.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 70.23% of the company's stock.

Hedge Funds Weigh In On Bitcoin Depot

Large investors have recently made changes to their positions in the company. Blue Owl Capital Holdings LP grew its position in 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 period. Verdence Capital Advisors LLC purchased a new stake in shares of Bitcoin Depot during the 1st quarter worth about $73,000. Renaissance Technologies LLC boosted its stake in shares of Bitcoin Depot by 96.4% during the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock worth $237,000 after acquiring an additional 71,700 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Bitcoin Depot during the 4th quarter valued at about $267,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Bitcoin Depot during the 4th quarter valued at about $427,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Bitcoin Depot Trading Down 6.6%

Shares of NASDAQ BTM traded down $0.40 during midday trading on Monday, reaching $5.63. The company had a trading volume of 1,795,226 shares, compared to its average volume of 707,290. Bitcoin Depot has a 1 year low of $0.93 and a 1 year high of $6.88. The business's 50-day simple moving average is $3.01 and its 200 day simple moving average is $2.02. The stock has a market cap of $362.07 million, a P/E ratio of -29.63 and a beta of 0.75.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.11. The firm had revenue of $164.23 million for the quarter, compared to the consensus estimate of $151.67 million. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 0.99%.

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.