Analysts Set Bitcoin Depot Inc. (NASDAQ:BTM) PT at $4.83

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have been assigned a consensus recommendation of “Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.83.

A number of analysts recently weighed in on BTM shares. B. Riley boosted their target price on Bitcoin Depot from $4.70 to $5.50 and gave the stock a “buy” rating in a research report on Friday, May 16th. Wall Street Zen upgraded Bitcoin Depot from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Noble Financial restated an “outperform” rating on shares of Bitcoin Depot in a research report on Friday, June 13th. Northland Capmk upgraded Bitcoin Depot from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 16th. Finally, Northland Securities upgraded Bitcoin Depot from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Friday, May 16th.

Insider Buying and Selling at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,476 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $1.33, for a total value of $27,233.08. Following the completion of the sale, the chief operating officer now owns 169,276 shares in the company, valued at approximately $225,137.08. The trade was a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 70.23% of the company’s stock.

Institutional Trading of Bitcoin Depot

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Welch Capital Partners LLC NY lifted its position in Bitcoin Depot by 85.1% in the first quarter. Welch Capital Partners LLC NY now owns 966,250 shares of the company’s stock valued at $1,459,000 after purchasing an additional 444,177 shares during the last quarter. Verdence Capital Advisors LLC bought a new stake in Bitcoin Depot in the first quarter valued at approximately $73,000. Two Sigma Advisers LP bought a new stake in Bitcoin Depot in the fourth quarter valued at approximately $267,000. Two Sigma Investments LP purchased a new position in shares of Bitcoin Depot during the fourth quarter valued at approximately $427,000. Finally, Blue Owl Capital Holdings LP increased its stake in shares of Bitcoin Depot by 480.0% during the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock valued at $29,000 after buying an additional 15,000 shares during the period. Institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Trading Up 7.1%

Shares of BTM opened at $6.03 on Monday. The company has a market cap of $387.79 million, a PE ratio of -31.74 and a beta of 0.75. The stock has a 50-day moving average price of $3.11 and a 200-day moving average price of $2.05. Bitcoin Depot has a 12-month low of $0.93 and a 12-month high of $6.88.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. The firm had revenue of $164.23 million during the quarter, compared to the consensus estimate of $151.67 million. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 0.99%.

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.