Insider Selling: Bitcoin Depot (NASDAQ:BTM) COO Sells 7,000 Shares of Stock

Key Points

• Bitcoin Depot COO Christopher Scott Buchanan sold 7,000 shares at an average price of $3.52, a transaction totaling $24,640, resulting in a 4.75% decrease in his holdings.
• The company reported $0.16 earnings per share for the last quarter, which was below analyst expectations of $0.17, despite generating $172.11 million in revenue.
• Analyst ratings remain positive, with Bitcoin Depot receiving a "strong-buy" upgrade and analysts generally maintaining a "Buy" rating with an average target price of $5.67.

Bitcoin Depot Inc. (NASDAQ:BTM - Get Free Report) COO Christopher Scott Buchanan sold 7,000 shares of Bitcoin Depot stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $3.52, for a total transaction of $24,640.00. Following the sale, the chief operating officer directly owned 140,276 shares of the company's stock, valued at $493,771.52. This represents a 4.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Christopher Scott Buchanan also recently made the following trade(s):

• On Thursday, August 14th, Christopher Scott Buchanan sold 22,000 shares of Bitcoin Depot stock. The stock was sold at an average price of $4.21, for a total transaction of $92,620.00.

Bitcoin Depot Price Performance

BTM stock remained flat at $3.70 during trading on Tuesday. 1,930,714 shares of the company traded hands, compared to its average volume of 904,469. Bitcoin Depot Inc. has a 12 month low of $0.93 and a 12 month high of $6.88. The stock's 50-day moving average price is $4.71 and its two-hundred day moving average price is $3.30. The company has a market capitalization of $251.90 million, a price-to-earnings ratio of 37.00 and a beta of 0.84. The company has a debt-to-equity ratio of 12.34, a current ratio of 1.41 and a quick ratio of 1.41.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share 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 analysts' expectations of $168.00 million.

Hedge Funds Weigh In On Bitcoin Depot

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in Bitcoin Depot by 11,320.0% during the second quarter. Bank of America Corp DE now owns 9,707 shares of the company's stock worth $49,000 after purchasing an additional 9,622 shares in the last quarter. Cetera Investment Advisers acquired a new position in Bitcoin Depot during the second quarter worth about $51,000. Truist Financial Corp purchased a new stake in shares of Bitcoin Depot in the second quarter valued at about $71,000. Verdence Capital Advisors LLC purchased a new position in Bitcoin Depot in the first quarter worth approximately $73,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Bitcoin Depot during the 2nd quarter worth about $74,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Northland Capmk upgraded shares of Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 16th. Noble Financial reiterated an "outperform" rating on shares of Bitcoin Depot in a research note on Friday, June 13th. Wall Street Zen upgraded Bitcoin Depot from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. HC Wainwright increased their price target on shares of Bitcoin Depot from $5.00 to $6.50 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, B. Riley lifted their price objective on shares of Bitcoin Depot from $4.70 to $5.50 and gave the company a "buy" rating in a research note on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Bitcoin Depot presently has an average rating of "Buy" and an average target price of $5.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.