Research Analysts Issue Forecasts for Bitcoin Depot Inc.’s Q1 2024 Earnings (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Analysts at HC Wainwright issued their Q1 2024 EPS estimates for shares of Bitcoin Depot in a research report issued on Tuesday, March 26th. HC Wainwright analyst M. Colonnese forecasts that the company will post earnings per share of ($0.09) for the quarter. HC Wainwright has a “Buy” rating and a $4.00 price target 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.

Other research analysts also recently issued research reports about the stock. Northland Securities began coverage on shares of Bitcoin Depot in a research report on Wednesday, December 20th. They issued a “market perform” rating and a $3.50 price objective on the stock. B. Riley decreased their price objective on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday.

Bitcoin Depot Trading Down 12.4 %

NASDAQ BTM opened at $1.91 on Thursday. The company has a debt-to-equity ratio of 3.16, a current ratio of 0.72 and a quick ratio of 0.72. The company’s 50-day simple moving average is $2.35 and its two-hundred day simple moving average is $2.47. Bitcoin Depot has a one year low of $1.88 and a one year high of $11.15.

Institutional Investors Weigh In On Bitcoin Depot

A number of large investors have recently modified their holdings of the business. Meteora Capital LLC acquired a new stake in Bitcoin Depot during the third quarter worth about $902,000. Shaolin Capital Management LLC acquired a new stake in Bitcoin Depot during the third quarter worth about $11,244,000. Exchange Traded Concepts LLC acquired a new stake in Bitcoin Depot during the third quarter worth about $703,000. Saba Capital Management L.P. acquired a new stake in Bitcoin Depot during the third quarter worth about $305,000. Finally, Cowen AND Company LLC acquired a new stake in Bitcoin Depot during the third quarter worth about $35,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Insider Activity at Bitcoin Depot

In related news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the sale, the chief operating officer now owns 338,741 shares of the company’s stock, valued at approximately $840,077.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.