Two Sigma Investments LP Takes $427,000 Position in Bitcoin Depot Inc. (NASDAQ:BTM)

Two Sigma Investments LP acquired a new stake in shares of Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 263,714 shares of the company's stock, valued at approximately $427,000. Two Sigma Investments LP owned about 0.44% of Bitcoin Depot at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC increased 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 valued at $237,000 after acquiring an additional 71,700 shares during the last quarter. Blue Owl Capital Holdings LP increased its stake in shares of Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company's stock valued at $29,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Radcliffe Capital Management L.P. increased its stake in shares of Bitcoin Depot by 134.3% during the 4th quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company's stock valued at $463,000 after acquiring an additional 163,854 shares during the last quarter. Institutional investors and hedge funds own 9.18% of the company's stock.

Bitcoin Depot Trading Down 0.5%

BTM traded down $0.03 on Friday, reaching $6.22. 2,302,691 shares of the company's stock were exchanged, compared to its average volume of 681,638. The company's 50 day moving average is $2.63 and its 200-day moving average is $1.91. The company has a market cap of $400.02 million, a price-to-earnings ratio of -6.69 and a beta of 0.75. Bitcoin Depot Inc. has a twelve month low of $0.93 and a twelve month high of $6.66. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last issued its quarterly earnings data 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. Bitcoin Depot had a negative net margin of 2.28% and a negative return on equity of 488.33%. The company had revenue of $164.23 million during the quarter, compared to the consensus estimate of $151.67 million.

Insider Buying and Selling at Bitcoin Depot

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

Analyst Ratings Changes

BTM has been the subject of a number of research analyst reports. 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. Northland Capmk raised shares of Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 16th. HC Wainwright reissued a "buy" rating and set a $4.00 target price on shares of Bitcoin Depot in a research 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 target price for the company in a research report on Friday, May 16th. Finally, B. Riley increased their target price on shares of Bitcoin Depot from $4.70 to $5.50 and gave the stock a "buy" rating in a research report on Friday, May 16th. Three investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Strong Buy" and an average target price of $4.83.

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.