Two Sigma Advisers LP Makes New $267,000 Investment in Bitcoin Depot Inc. (NASDAQ:BTM)

Two Sigma Advisers LP bought a new position in shares of Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 164,800 shares of the company's stock, valued at approximately $267,000. Two Sigma Advisers LP owned 0.27% of Bitcoin Depot as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Blue Owl Capital Holdings LP raised its holdings in Bitcoin Depot by 480.0% in the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company's stock worth $29,000 after purchasing an additional 15,000 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Bitcoin Depot by 96.4% in the fourth quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock worth $237,000 after buying an additional 71,700 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Bitcoin Depot during the 4th quarter worth approximately $427,000. Finally, Radcliffe Capital Management L.P. boosted its stake in Bitcoin Depot by 134.3% during the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company's stock worth $463,000 after buying an additional 163,854 shares during the last quarter. 9.18% of the stock is currently owned by hedge funds and other institutional investors.

Bitcoin Depot Stock Up 5.7%

Bitcoin Depot stock traded up $0.33 during trading on Tuesday, reaching $6.09. The stock had a trading volume of 3,654,694 shares, compared to its average volume of 649,430. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33. Bitcoin Depot Inc. has a 52-week low of $0.93 and a 52-week high of $6.42. The stock has a market cap of $391.66 million, a PE ratio of -6.55 and a beta of 0.75. The business has a 50 day moving average price of $2.33 and a 200 day moving average price of $1.82.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.11. The business had revenue of $164.23 million for the quarter, compared to analyst estimates of $151.67 million. Bitcoin Depot had a negative net margin of 2.28% and a negative return on equity of 488.33%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BTM. HC Wainwright reissued a "buy" rating and issued a $4.00 price objective on shares of Bitcoin Depot in a report on Tuesday, March 18th. Northland Securities raised shares of Bitcoin Depot from a "market perform" rating to an "outperform" rating and set a $5.00 price objective for the company in a research report on Friday, May 16th. Northland Capmk upgraded shares of Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a report on Friday, May 16th. B. Riley boosted their price target on shares of Bitcoin Depot from $4.70 to $5.50 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bitcoin Depot currently has an average rating of "Strong Buy" and an average target price of $4.83.

Insiders Place Their Bets

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,476 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $1.33, for a total transaction of $27,233.08. Following the sale, the chief operating officer now owns 169,276 shares of the company's stock, valued at approximately $225,137.08. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 70.23% of the stock is owned by company insiders.

Bitcoin Depot 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.