Bitcoin Depot Inc. (NASDAQ:BTM) Receives $5.83 Consensus Target Price from Brokerages

Bitcoin Depot Inc. (NASDAQ:BTM) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $5.8333.

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Wednesday, October 8th. Zacks Research cut shares of Bitcoin Depot from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. HC Wainwright lifted their price target on shares of Bitcoin Depot from $5.00 to $6.50 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded shares of Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, B. Riley cut Bitcoin Depot from a “buy” rating to a “neutral” rating in a report on Friday, November 14th.

Bitcoin Depot Price Performance

NASDAQ BTM opened at $1.60 on Monday. The stock has a market capitalization of $116.58 million, a price-to-earnings ratio of 6.96 and a beta of 0.85. Bitcoin Depot has a 1-year low of $0.93 and a 1-year high of $6.88. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.88 and a quick ratio of 1.88. The business’s fifty day moving average price is $2.39 and its 200-day moving average price is $3.86.

Bitcoin Depot (NASDAQ:BTM) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Bitcoin Depot had a return on equity of 791.02% and a net margin of 1.44%.The company had revenue of $162.48 million during the quarter, compared to analysts’ expectations of $153.11 million.

Insider Buying and Selling at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 7,000 shares of Bitcoin Depot stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $3.82, for a total transaction of $26,740.00. Following the transaction, the chief operating officer directly owned 133,276 shares of the company’s stock, valued at $509,114.32. The trade was a 4.99% 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 90 days, insiders sold 21,000 shares of company stock worth $55,580. 51.95% of the stock is owned by insiders.

Institutional Trading of Bitcoin Depot

Several institutional investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new stake in Bitcoin Depot during the 2nd quarter valued at approximately $4,097,000. Vanguard Group Inc. grew its stake in Bitcoin Depot by 54.9% during the third quarter. Vanguard Group Inc. now owns 951,318 shares of the company’s stock valued at $3,196,000 after acquiring an additional 337,070 shares in the last quarter. Welch Capital Partners LLC NY increased its holdings in Bitcoin Depot by 33.0% in the 2nd quarter. Welch Capital Partners LLC NY now owns 1,285,190 shares of the company’s stock valued at $6,516,000 after acquiring an additional 318,940 shares during the last quarter. Man Group plc lifted its stake in Bitcoin Depot by 1,803.0% in the 3rd quarter. Man Group plc now owns 315,581 shares of the company’s stock worth $1,060,000 after purchasing an additional 298,998 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Bitcoin Depot during the 2nd quarter valued at about $1,149,000. Hedge funds and other 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.