FY2024 EPS Estimates for Bitcoin Depot Cut by B. Riley

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at B. Riley dropped their FY2024 earnings per share estimates for Bitcoin Depot in a research note issued on Monday, November 11th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings per share of ($0.01) for the year, down from their previous estimate of $0.02. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.10) per share.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings data 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.

A number of other research firms have also recently commented on BTM. HC Wainwright cut their target price on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Noble Financial raised Bitcoin Depot to a “strong-buy” rating in a research note on Thursday, October 17th.

Bitcoin Depot Trading Down 17.7 %

BTM opened at $2.00 on Thursday. The firm has a market cap of $120.22 million, a P/E ratio of -1.53 and a beta of -0.33. The business has a fifty day simple moving average of $1.63 and a 200-day simple moving average of $1.72. 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.

Insider Buying and Selling

In other news, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total transaction of $31,200.00. Following the sale, the chief operating officer now owns 241,276 shares of the company’s stock, valued at approximately $376,390.56. The trade was a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 50,100 shares of company stock worth $77,051. Corporate insiders own 70.23% of the company’s stock.

Institutional Investors Weigh In On Bitcoin Depot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTM. Shaolin Capital Management LLC grew its position in 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 buying an additional 49,600 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Walleye Capital LLC lifted its stake in shares of Bitcoin Depot by 110.1% in 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 last quarter. Institutional investors 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.