48,179 Shares in Bitcoin Depot Inc. (NASDAQ:BTM) Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC bought a new stake in Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 48,179 shares of the company's stock, valued at approximately $73,000. Verdence Capital Advisors LLC owned 0.08% of Bitcoin Depot as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in Bitcoin Depot by 96.4% in the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company's stock valued at $237,000 after purchasing an additional 71,700 shares during the last quarter. Radcliffe Capital Management L.P. boosted its holdings 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 in the last quarter. Blue Owl Capital Holdings LP grew its position in Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company's stock worth $29,000 after acquiring an additional 15,000 shares during the last quarter. Two Sigma Investments LP bought a new position in Bitcoin Depot in the fourth quarter valued at about $427,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Bitcoin Depot during the fourth quarter valued at about $267,000. Institutional investors and hedge funds own 9.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BTM. Northland Securities upgraded 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 report on Friday, May 16th. Wall Street Zen raised Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Noble Financial reiterated an "outperform" rating on shares of Bitcoin Depot in a research report on Friday, June 13th. Northland Capmk upgraded Bitcoin Depot from a "hold" rating to a "strong-buy" rating 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 company a "buy" rating in a research report on Friday, May 16th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bitcoin Depot currently has a consensus rating of "Buy" and a consensus price target of $4.83.

Bitcoin Depot Price Performance

Shares of Bitcoin Depot stock traded down $0.21 on Thursday, hitting $5.27. 948,814 shares of the company's stock traded hands, compared to its average volume of 1,645,672. The company has a fifty day moving average of $5.03 and a two-hundred day moving average of $2.68. Bitcoin Depot Inc. has a one year low of $0.93 and a one year high of $6.88. The company has a market capitalization of $338.91 million, a price-to-earnings ratio of -27.74 and a beta of 0.87.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.09 by $0.11. The company had revenue of $164.23 million for the quarter, compared to analyst estimates of $151.67 million.

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.