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 the 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 completion of the sale, the chief operating officer directly owned 140,276 shares of the company's stock, valued at $493,771.52. This trade represents a 4.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 shares were sold at an average price of $4.21, for a total value of $92,620.00.

Bitcoin Depot Stock Up 4.2%

Shares of Bitcoin Depot stock traded up $0.16 on Friday, hitting $3.93. 834,261 shares of the company's stock traded hands, compared to its average volume of 830,677. The stock has a market cap of $267.55 million, a P/E ratio of 39.30 and a beta of 0.84. 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 firm's 50-day moving average is $4.60 and its 200 day moving average is $3.37. Bitcoin Depot Inc. has a 52-week low of $0.93 and a 52-week high of $6.88.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. 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 target price on Bitcoin Depot from $5.00 to $6.50 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Zacks Research cut Bitcoin Depot from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Noble Financial restated an "outperform" rating on shares of Bitcoin Depot in a research note on Friday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Bitcoin Depot has a consensus rating of "Buy" and a consensus price target of $5.67.

Hedge Funds Weigh In On Bitcoin Depot

Large investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP bought a new position in Bitcoin Depot during the fourth quarter worth $427,000. Welch Capital Partners LLC NY lifted its stake in Bitcoin Depot by 85.1% in the first 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 Advisers LP bought a new stake in Bitcoin Depot in the fourth quarter valued at $267,000. Verdence Capital Advisors LLC bought a new stake in Bitcoin Depot in the first quarter valued at $73,000. Finally, Cetera Investment Advisers bought a new stake in Bitcoin Depot in the second quarter valued at $51,000. 9.18% of the stock is currently owned by institutional investors.

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.