B. Riley Trims Bitcoin Depot (NASDAQ:BTM) Target Price to $4.00

Bitcoin Depot (NASDAQ:BTM) had its target price reduced by B. Riley from $6.00 to $4.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Bitcoin Depot’s Q1 2024 earnings at ($0.04) EPS, Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.04 EPS and FY2024 earnings at $0.08 EPS.

A number of other research analysts have also issued reports on the stock. HC Wainwright reduced their target price on shares of Bitcoin Depot from $5.00 to $4.00 and set a buy rating for the company in a research note on Tuesday. Northland Securities began coverage on shares of Bitcoin Depot in a research report on Wednesday, December 20th. They set a market perform rating and a $3.50 price target on the stock.

Bitcoin Depot Stock Down 0.8 %

Bitcoin Depot stock opened at $1.90 on Tuesday. 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 firm has a 50-day moving average price of $2.35 and a two-hundred day moving average price of $2.47. Bitcoin Depot has a 52-week low of $1.88 and a 52-week high of $11.15.

Insiders Place Their Bets

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total transaction of $35,989.76. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 20.09% of the stock is owned by insiders.

Institutional Trading of Bitcoin Depot

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cowen AND Company LLC purchased a new position in shares of Bitcoin Depot in the third quarter worth approximately $35,000. Wellington Management Group LLP purchased a new position in shares of Bitcoin Depot in the fourth quarter worth approximately $35,000. Vanguard Group Inc. purchased a new position in shares of Bitcoin Depot in the third quarter worth approximately $45,000. Northern Trust Corp purchased a new position in shares of Bitcoin Depot in the fourth quarter worth approximately $61,000. Finally, Owl Creek Asset Management L.P. purchased a new position in shares of Bitcoin Depot in the fourth quarter worth approximately $68,000. 9.18% of the stock is currently owned by institutional investors.

Bitcoin Depot Company Profile

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.