HC Wainwright Reiterates “Buy” Rating for Bitcoin Depot (NASDAQ:BTM)

Bitcoin Depot (NASDAQ:BTM)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $4.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 183.69% from the stock’s previous close.

Bitcoin Depot Stock Performance

NASDAQ:BTM opened at $1.41 on Tuesday. Bitcoin Depot has a 1 year low of $0.93 and a 1 year high of $3.52. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a fifty day moving average price of $1.44 and a two-hundred day moving average price of $1.61. The stock has a market capitalization of $85.15 million, a price-to-earnings ratio of -1.52 and a beta of 0.10.

Institutional Trading of Bitcoin Depot

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC increased its holdings in Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after buying an additional 12,337 shares in the last quarter. Blue Owl Capital Holdings LP grew its holdings in shares of Bitcoin Depot by 480.0% in the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after acquiring an additional 15,000 shares during the period. Renaissance Technologies LLC increased its stake in Bitcoin Depot by 96.4% in the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock valued at $237,000 after purchasing an additional 71,700 shares in the last quarter. Radcliffe Capital Management L.P. raised its holdings in Bitcoin Depot by 134.3% during the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock worth $463,000 after purchasing an additional 163,854 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in Bitcoin Depot during the fourth quarter worth $267,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

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.