Bitcoin Depot (NASDAQ:BTM) Stock Price Up 0.8% - Time to Buy?

Key Points

• Bitcoin Depot Inc. (NASDAQ:BTM) shares increased by 0.8% and are currently trading at approximately $3.84, with a significant decline in trading volume of 14% compared to its average daily volume.
• Several analysts have a positive outlook on Bitcoin Depot, with a consensus rating of "Buy" and price targets as high as $5.67, indicating potential growth opportunities for investors.
• The company's recent earnings report showed a missed EPS estimate with earnings of $0.16 compared to the consensus estimate of $0.17, despite reporting revenue that exceeded analyst expectations.

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) shot up 0.8% on Wednesday . The stock traded as high as $3.89 and last traded at $3.84. 817,493 shares were traded during trading, a decline of 14% from the average session volume of 949,400 shares. The stock had previously closed at $3.81.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Zacks Research lowered Bitcoin Depot from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Northland Capmk raised shares of Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a report on Friday, May 16th. B. Riley raised their price target on shares of Bitcoin Depot from $4.70 to $5.50 and gave the company a "buy" rating in a report on Friday, May 16th. Northland Securities raised shares of Bitcoin Depot from a "market perform" rating to an "outperform" rating and set a $5.00 price target for the company in a report 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Bitcoin Depot presently has a consensus rating of "Buy" and a consensus target price of $5.67.

Bitcoin Depot Trading Down 0.3%

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 12.34. The business's fifty day moving average is $4.87 and its 200 day moving average is $3.22. The firm has a market capitalization of $245.77 million, a price-to-earnings ratio of 36.10 and a beta of 0.84.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Bitcoin Depot had a negative return on equity of 44.12% and a net margin of 0.44%.The company had revenue of $172.11 million for the quarter, compared to analyst estimates of $168.00 million.

Insider Activity at Bitcoin Depot

In related news, COO Christopher Scott Buchanan sold 22,000 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $4.21, for a total transaction of $92,620.00. Following the sale, the chief operating officer directly owned 147,276 shares in the company, valued at $620,031.96. This trade represents a 13.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 70.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bitcoin Depot

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in Bitcoin Depot in the 2nd quarter valued at $4,097,000. Welch Capital Partners LLC NY increased its stake in Bitcoin Depot by 85.1% in the 1st quarter. Welch Capital Partners LLC NY now owns 966,250 shares of the company's stock valued at $1,459,000 after buying an additional 444,177 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Bitcoin Depot in the 4th quarter valued at $427,000. Lazard Asset Management LLC acquired a new stake in Bitcoin Depot in the 2nd quarter valued at $1,149,000. Finally, Two Sigma Advisers LP acquired a new stake in Bitcoin Depot in the 4th quarter valued at $267,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

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.