Bitcoin Depot Q3 EPS Forecast Boosted by Northland Capmk

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities research analysts at Northland Capmk increased their Q3 2024 earnings per share (EPS) estimates for shares of Bitcoin Depot in a research note issued on Thursday, November 14th. Northland Capmk analyst M. Grondahl now anticipates that the company will post earnings per share of $0.13 for the quarter, up from their previous estimate of $0.02. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share. Northland Capmk also issued estimates for Bitcoin Depot’s Q4 2024 earnings at ($0.06) EPS and FY2024 earnings at ($0.16) EPS.

Other equities analysts have also recently issued reports about the stock. Noble Financial raised shares of Bitcoin Depot to a “strong-buy” rating in a research note on Thursday, October 17th. HC Wainwright dropped their price target on shares of 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 Price Performance

Bitcoin Depot stock opened at $2.04 on Monday. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $1.64 and a 200-day simple moving average of $1.71. Bitcoin Depot has a 12 month low of $1.33 and a 12 month high of $3.70. The stock has a market capitalization of $122.62 million, a PE ratio of -2.19 and a beta of -0.33.

Hedge Funds Weigh In On Bitcoin Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC boosted its position in Bitcoin Depot by 110.1% during the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after acquiring an additional 12,337 shares during the last quarter. Renaissance Technologies LLC increased its stake in Bitcoin Depot by 122.1% during the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after acquiring an additional 26,000 shares during the last quarter. Finally, Shaolin Capital Management LLC raised its holdings 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 buying an additional 49,600 shares during the period. Institutional investors and hedge funds own 9.18% of the company’s stock.

Insiders Place Their Bets

In related news, COO Christopher Scott Buchanan sold 20,000 shares of the business’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 directly owns 241,276 shares in the company, valued at $376,390.56. The trade was a 7.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 50,100 shares of company stock worth $77,051. 70.23% of the stock is owned by corporate insiders.

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.