B. Riley Reaffirms “Buy” Rating for Bitcoin Depot (NASDAQ:BTM)

Bitcoin Depot (NASDAQ:BTM)‘s stock had its “buy” rating restated by analysts at B. Riley in a report released on Wednesday,Benzinga reports. They presently have a $4.70 target price on the stock, up from their previous target price of $4.50. B. Riley’s price objective points to a potential upside of 240.58% from the stock’s current price.

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Bitcoin Depot in a research note on Tuesday.

Bitcoin Depot Stock Performance

BTM opened at $1.38 on Wednesday. The company has a market cap of $83.34 million, a PE ratio of -1.48 and a beta of 0.10. The stock has a 50-day moving average of $1.43 and a 200-day moving average of $1.60. Bitcoin Depot has a 52-week low of $0.93 and a 52-week 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.

Institutional Trading of Bitcoin Depot

Several large investors have recently made changes to their positions in the stock. Blue Owl Capital Holdings LP boosted its stake in Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock valued at $29,000 after purchasing an additional 15,000 shares during the period. Walleye Capital LLC boosted its stake in Bitcoin Depot by 110.1% during the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after purchasing an additional 12,337 shares during the period. Renaissance Technologies LLC boosted its stake in Bitcoin Depot by 96.4% during 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 during the period. Two Sigma Advisers LP bought a new stake in Bitcoin Depot during the 4th quarter valued at approximately $267,000. Finally, 272 Capital LP bought a new stake in Bitcoin Depot during the 3rd quarter valued at approximately $401,000. Institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Company Profile

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.