Insider Buying: Bitcoin Depot Inc. (NASDAQ:BTM) Major Shareholder Purchases 19,422 Shares of Stock

Bitcoin Depot Inc. (NASDAQ:BTM) major shareholder Andrew Mitchell Paul acquired 19,422 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $1.54 per share, with a total value of $29,909.88. Following the completion of the purchase, the insider now directly owns 19,422 shares of the company’s stock, valued at $29,909.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Andrew Mitchell Paul also recently made the following trade(s):

• On Monday, August 12th, Andrew Mitchell Paul bought 38,560 shares of Bitcoin Depot stock. The stock was purchased at an average price of $1.70 per share, with a total value of $65,552.00.
• On Friday, August 9th, Andrew Mitchell Paul purchased 97,804 shares of Bitcoin Depot stock. The shares were purchased at an average price of $1.66 per share, for a total transaction of $162,354.64.

Bitcoin Depot Stock Down 3.8 %

NASDAQ:BTM traded down $0.06 during mid-day trading on Monday, reaching $1.53. The company’s stock had a trading volume of 37,341 shares, compared to its average volume of 214,148. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 9.33. Bitcoin Depot Inc. has a 1 year low of $1.33 and a 1 year high of $3.70. The stock has a fifty day moving average of $1.64 and a 200-day moving average of $1.83. The firm has a market capitalization of $91.21 million, a PE ratio of -0.82 and a beta of -0.34.

Bitcoin Depot (NASDAQ:BTM) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.16). Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%. The business had revenue of $163.07 million during the quarter, compared to analysts’ expectations of $148.49 million. Equities research analysts forecast that Bitcoin Depot Inc. will post -0.09 earnings per share for the current year.

Institutional Trading of Bitcoin Depot

Several hedge funds and other institutional investors have recently bought and sold shares of BTM. Cohanzick Management LLC raised its position in shares of Bitcoin Depot by 54.4% in the 4th quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock worth $1,944,000 after acquiring an additional 212,000 shares in the last quarter. Shaolin Capital Management LLC grew its stake in Bitcoin Depot by 7.6% in the first quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after purchasing an additional 49,600 shares during the last quarter. Privium Fund Management UK Ltd bought a new position in Bitcoin Depot in the first quarter worth about $60,000. Renaissance Technologies LLC lifted its position in shares of Bitcoin Depot by 122.1% during the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after buying an additional 26,000 shares during the last quarter. Finally, Owl Creek Asset Management L.P. purchased a new stake in shares of Bitcoin Depot during the fourth quarter valued at about $68,000. Institutional investors own 9.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright decreased their price target on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Thursday, August 15th.

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.