Bitcoin Depot Inc. (NASDAQ:BTM) Given Average Recommendation of “Hold” by Analysts

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have received a consensus rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $14.40.

A number of equities analysts recently issued reports on the stock. B. Riley Financial increased their price target on shares of Bitcoin Depot to $4.20 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Wall Street Zen downgraded Bitcoin Depot from a “sell” rating to a “strong sell” rating in a report on Sunday. HC Wainwright increased their price objective on Bitcoin Depot from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bitcoin Depot in a report on Wednesday, January 21st. Finally, Noble Financial reiterated an “outperform” rating on shares of Bitcoin Depot in a report on Tuesday, March 17th.

Hedge Funds Weigh In On Bitcoin Depot

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in shares of Bitcoin Depot by 12.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,534,631 shares of the company’s stock valued at $1,980,000 after purchasing an additional 168,900 shares during the last quarter. Owl Creek Asset Management L.P. purchased a new position in shares of Bitcoin Depot during the fourth quarter valued at approximately $1,935,000. Welch Capital Partners LLC NY lifted its holdings in shares of Bitcoin Depot by 14.3% during the third quarter. Welch Capital Partners LLC NY now owns 1,469,313 shares of the company’s stock valued at $4,937,000 after purchasing an additional 184,123 shares during the last quarter. Sabby Management LLC purchased a new position in shares of Bitcoin Depot during the fourth quarter valued at approximately $1,292,000. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 337,070 shares during the last quarter. Institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Price Performance

BTM stock opened at $5.30 on Friday. Bitcoin Depot has a 1 year low of $1.90 and a 1 year high of $48.16. The company has a market cap of $58.99 million, a P/E ratio of 2.79 and a beta of 1.26. The firm has a 50-day moving average of $4.27 and a 200 day moving average of $10.07. The company has a debt-to-equity ratio of 4.72, a current ratio of 1.26 and a quick ratio of 1.26.

Bitcoin Depot (NASDAQ:BTM) last released its quarterly earnings results on Monday, March 16th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.71). Bitcoin Depot had a negative return on equity of 70.95% and a negative net margin of 0.94%.The company had revenue of $116.04 million during the quarter, compared to the consensus estimate of $113.93 million.

About Bitcoin Depot

Bitcoin Depot, Inc operates one of the largest networks of self-service cryptocurrency kiosks in North America, enabling customers to buy and sell Bitcoin and other digital assets using cash or debit cards. Through a partnership model with convenience stores, gas stations and retail outlets, the company provides an accessible on-ramp and off-ramp for individuals entering the cryptocurrency market without requiring a bank account or extensive technical knowledge. Transactions are completed in real time at the point of sale, with verification and receipt provided via email or mobile phone.

Founded in 2016 and headquartered in Atlanta, Georgia, Bitcoin Depot began as a privately held startup focused on expanding retail access to digital currencies.