Bitcoin Depot (NASDAQ:BTM) Upgraded at Noble Financial

Noble Financial upgraded shares of Bitcoin Depot (NASDAQ:BTM) to a strong-buy rating in a research report sent to investors on Thursday morning, Zacks.com reports.

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

Bitcoin Depot Stock Performance

Shares of BTM stock opened at $1.56 on Thursday. The company has a market cap of $93.00 million, a price-to-earnings ratio of -0.83 and a beta of -0.35. Bitcoin Depot has a 52 week low of $1.33 and a 52 week high of $3.70. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 9.33. The firm has a 50 day moving average of $1.59 and a 200-day moving average of $1.72.

Bitcoin Depot (NASDAQ:BTM) last issued its earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $163.07 million during the quarter, compared to the consensus estimate of $148.49 million. On average, equities analysts forecast that Bitcoin Depot will post -0.09 earnings per share for the current year.

Insider Activity at Bitcoin Depot

In other news, major shareholder Andrew Mitchell Paul acquired 19,422 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $1.54 per share, for a total transaction of $29,909.88. Following the purchase, the insider now owns 19,422 shares of the company’s stock, valued at approximately $29,909.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Andrew Mitchell Paul purchased 19,422 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $1.54 per share, for a total transaction of $29,909.88. Following the completion of the transaction, the insider now directly owns 19,422 shares in the company, valued at approximately $29,909.88. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Christopher Scott Buchanan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total value of $31,200.00. Following the sale, the chief operating officer now owns 241,276 shares in the company, valued at approximately $376,390.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 155,786 shares of company stock worth $257,817 and have sold 70,100 shares worth $109,637. 20.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Privium Fund Management UK Ltd bought a new position in shares of Bitcoin Depot in the first quarter worth approximately $60,000. Renaissance Technologies LLC increased its position in shares of Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Shaolin Capital Management LLC increased its position in shares of Bitcoin Depot by 7.6% in the first quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after purchasing an additional 49,600 shares during the last quarter. 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.