Research Analysts Issue Forecasts for Bitcoin Depot Inc.’s Q4 2024 Earnings (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Analysts at B. Riley lowered their Q4 2024 earnings per share estimates for Bitcoin Depot in a note issued to investors on Tuesday, March 26th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings per share of $0.04 for the quarter, down from their previous forecast of $0.10. B. Riley currently 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.

A number of other equities research analysts have also recently commented on BTM. Northland Securities began coverage on shares of Bitcoin Depot in a research note on Wednesday, December 20th. They issued a “market perform” rating and a $3.50 price objective on the stock. HC Wainwright cut their price objective on shares of Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday.

Bitcoin Depot Stock Down 0.8 %

NASDAQ:BTM 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 fifty-two week low of $1.88 and a fifty-two week high of $11.15. The firm’s fifty day simple moving average is $2.35 and its 200-day simple moving average is $2.47.

Institutional Investors Weigh In On Bitcoin Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTM. Cowen AND Company LLC bought a new stake in shares of Bitcoin Depot in the third quarter valued at approximately $35,000. Wellington Management Group LLP acquired a new position in Bitcoin Depot during the fourth quarter worth $35,000. Vanguard Group Inc. acquired a new position in Bitcoin Depot during the third quarter worth $45,000. Northern Trust Corp acquired a new stake in shares of Bitcoin Depot in the fourth quarter valued at $61,000. Finally, Owl Creek Asset Management L.P. acquired a new stake in shares of Bitcoin Depot in the fourth quarter valued at $68,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Christopher Scott Buchanan sold 14,512 shares of Bitcoin Depot 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.