Bitcoin Depot Inc. Forecasted to Post Q1 2024 Earnings of ($0.09) Per Share (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Stock analysts at HC Wainwright issued their Q1 2024 earnings estimates for shares of Bitcoin Depot in a research report issued on Tuesday, March 26th. HC Wainwright analyst M. Colonnese anticipates that the company will earn ($0.09) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $4.00 target price on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.69) per share. HC Wainwright also issued estimates for Bitcoin Depot’s Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.02 EPS, FY2024 earnings at ($0.11) EPS and FY2025 earnings at $0.20 EPS.

A number of other research analysts also recently commented on the company. B. Riley lowered their target price on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday. Northland Securities initiated coverage on Bitcoin Depot in a research report on Wednesday, December 20th. They set a “market perform” rating and a $3.50 target price for the company.

Bitcoin Depot Price Performance

BTM stock opened at $1.90 on Thursday. Bitcoin Depot has a 1-year low of $1.88 and a 1-year high of $11.15. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.72 and a current ratio of 0.72. The business has a 50 day simple moving average of $2.34 and a two-hundred day simple moving average of $2.46.

Institutional Trading of Bitcoin Depot

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC purchased a new stake in Bitcoin Depot in the third quarter worth $703,000. Cowen AND Company LLC purchased a new stake in Bitcoin Depot in the third quarter worth $35,000. Meteora Capital LLC purchased a new stake in Bitcoin Depot in the third quarter worth $902,000. Saba Capital Management L.P. purchased a new stake in Bitcoin Depot in the third quarter worth $305,000. Finally, AWM Investment Company Inc. purchased a new stake in Bitcoin Depot in the third quarter worth $2,464,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Insider Activity

In other news, COO Christopher Scott Buchanan sold 14,512 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total transaction of $35,989.76. Following the completion of the transaction, the chief operating officer now directly owns 338,741 shares in the company, valued at approximately $840,077.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Christopher Scott Buchanan sold 14,512 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total transaction of $35,989.76. Following the sale, the chief operating officer now owns 338,741 shares in the company, valued at approximately $840,077.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandon Taylor Mintz sold 62,865 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $1.99, for a total value of $125,101.35. Following the sale, the insider now owns 759,567 shares in the company, valued at approximately $1,511,538.33. The disclosure for this sale can be found here. Corporate insiders own 20.09% of the company’s stock.

About Bitcoin Depot

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.