Q2 2024 EPS Estimates for Bitcoin Depot Inc. (NASDAQ:BTM) Boosted by Northland Capmk

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at Northland Capmk raised their Q2 2024 EPS estimates for shares of Bitcoin Depot in a research note issued to investors on Monday, March 25th. Northland Capmk analyst M. Grondahl now forecasts that the company will earn $0.24 per share for the quarter, up from their previous forecast of $0.20. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.69) per share. Northland Capmk also issued estimates for Bitcoin Depot’s Q3 2024 earnings at $0.27 EPS.

A number of other equities research analysts also recently issued reports on the stock. Northland Securities initiated 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 objective for the company. HC Wainwright reduced their price target on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, B. Riley lowered their price objective on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday.

Bitcoin Depot Stock Down 0.8 %

Shares of BTM stock opened at $1.90 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.16. Bitcoin Depot has a 12 month low of $1.88 and a 12 month high of $11.15. The company has a 50 day simple moving average of $2.35 and a two-hundred day simple moving average of $2.47.

Hedge Funds Weigh In On Bitcoin Depot

Several hedge funds have recently modified their holdings of the stock. Meteora Capital LLC bought a new stake in Bitcoin Depot in the 3rd quarter valued at $902,000. Shaolin Capital Management LLC purchased a new position in shares of Bitcoin Depot during the third quarter valued at about $11,244,000. Exchange Traded Concepts LLC bought a new stake in shares of Bitcoin Depot in the third quarter worth about $703,000. Saba Capital Management L.P. purchased a new stake in shares of Bitcoin Depot in the third quarter worth about $305,000. Finally, Cowen AND Company LLC bought a new position in Bitcoin Depot during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Insider Activity at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 14,512 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the transaction, the chief operating officer now owns 338,741 shares of the company’s stock, valued at $840,077.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 20.09% of the stock is owned by corporate insiders.

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.