Bitcoin Depot (NASDAQ:BTM) Downgraded to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Bitcoin Depot (NASDAQ:BTM) from a "sell" to a "strong sell" in a research note issued Sunday.
• Analyst views remain mixed—three Buys, two Holds and one Sell—leaving a market consensus of "Hold" with an average target price of $14.40, well above the current share price.
• Bitcoin Depot reported quarterly EPS of ($1.18) versus an expected ($0.47) (a $0.71 miss) while generating $116.04M in revenue; the stock trades around $5.30 with a market cap near $59M.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Sunday.

Other research analysts have also recently issued research reports about the company. B. Riley Financial boosted their price target on Bitcoin Depot to $4.20 and gave the stock a "neutral" rating in a research note on Tuesday, March 17th. Noble Financial restated an "outperform" rating on shares of Bitcoin Depot in a research note on Tuesday, March 17th. Weiss Ratings restated a "sell (d+)" rating on shares of Bitcoin Depot in a research note on Wednesday, January 21st. Finally, HC Wainwright boosted 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. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $14.40.

Bitcoin Depot Trading Up 5.0%

NASDAQ BTM opened at $5.30 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 4.72. Bitcoin Depot has a twelve month low of $1.90 and a twelve month high of $48.16. The firm has a market capitalization of $58.99 million, a PE ratio of 2.79 and a beta of 1.26. The stock's 50 day moving average is $4.27 and its 200 day moving average is $10.07.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last posted its quarterly earnings results on Monday, March 16th. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.71). Bitcoin Depot had a negative return on equity of 70.95% and a negative net margin of 0.94%.The business had revenue of $116.04 million during the quarter, compared to analysts' expectations of $113.93 million.

Institutional Trading of Bitcoin Depot

Large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Bitcoin Depot by 35.9% during the second quarter. Geode Capital Management LLC now owns 171,606 shares of the company's stock valued at $870,000 after purchasing an additional 45,300 shares during the period. Cetera Investment Advisers bought a new stake in Bitcoin Depot during the second quarter valued at about $51,000. JPMorgan Chase & Co. grew its holdings in Bitcoin Depot by 591,055.6% during the second quarter. JPMorgan Chase & Co. now owns 159,612 shares of the company's stock valued at $809,000 after purchasing an additional 159,585 shares during the period. Quantbot Technologies LP bought a new stake in Bitcoin Depot during the second quarter valued at about $205,000. Finally, Invesco Ltd. bought a new stake in Bitcoin Depot during the second quarter valued at about $242,000. Institutional investors own 9.18% of the company's stock.

Bitcoin Depot Company Profile

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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