Bitcoin Depot Inc. to Post Q2 2024 Earnings of $0.07 Per Share, Noble Financial Forecasts (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) - Investment analysts at Noble Financial cut their Q2 2024 EPS estimates for Bitcoin Depot in a research report issued on Monday, April 22nd. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings of $0.07 per share for the quarter, down from their prior estimate of $0.11. The consensus estimate for Bitcoin Depot's current full-year earnings is $0.25 per share. Noble Financial also issued estimates for Bitcoin Depot's Q3 2024 earnings at $0.12 EPS and FY2024 earnings at $0.32 EPS.

Several other research analysts also recently weighed in on BTM. HC Wainwright lowered their target price on Bitcoin Depot from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Tuesday, March 26th. B. Riley decreased their price target on Bitcoin Depot from $6.00 to $4.00 and set a "buy" rating for the company in a report on Tuesday, March 26th.

Bitcoin Depot Stock Performance

Shares of NASDAQ BTM traded up $0.03 during midday trading on Wednesday, reaching $1.93. 103,835 shares of the company were exchanged, compared to its average volume of 362,361. The stock has a fifty day simple moving average of $2.18 and a 200 day simple moving average of $2.35. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.81 and a current ratio of 0.81. Bitcoin Depot has a 1 year low of $1.36 and a 1 year high of $10.93.

Insiders Place Their Bets

In other news, COO Christopher Scott Buchanan sold 14,512 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the sale, the chief operating officer now directly owns 338,741 shares of the company's stock, valued at approximately $840,077.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brandon Taylor Mintz sold 62,865 shares of the firm's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $1.99, for a total value of $125,101.35. Following the completion of the transaction, the insider now owns 759,567 shares in the company, valued at $1,511,538.33. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Christopher Scott Buchanan sold 14,512 shares of Bitcoin Depot stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total value of $35,989.76. Following the transaction, the chief operating officer now directly owns 338,741 shares of the company's stock, valued at approximately $840,077.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,377 shares of company stock worth $247,591. Company insiders own 20.09% of the company's stock.

Hedge Funds Weigh In On Bitcoin Depot

Several hedge funds have recently added to or reduced their stakes in BTM. Exchange Traded Concepts LLC purchased a new position in shares of Bitcoin Depot during the third quarter valued at approximately $703,000. Cowen AND Company LLC purchased a new position in Bitcoin Depot in the third quarter valued at about $35,000. Meteora Capital LLC acquired a new position in Bitcoin Depot during the 3rd quarter worth approximately $902,000. Saba Capital Management L.P. purchased a new position in shares of Bitcoin Depot in the third quarter valued at $305,000. Finally, AWM Investment Company Inc. purchased a new position in Bitcoin Depot in the 3rd quarter valued at about $2,464,000. 9.18% of the stock is currently owned by hedge funds and other institutional investors.

Bitcoin Depot Company Profile

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.