Bitcoin Depot (NASDAQ:BTM) PT Lowered to $4.00

Bitcoin Depot (NASDAQ:BTM) had its price target decreased by HC Wainwright from $5.00 to $4.00 in a report released on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Bitcoin Depot’s Q1 2024 earnings at ($0.09) EPS, 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, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at $0.20 EPS.

Separately, Northland Securities started coverage on Bitcoin Depot in a research note on Wednesday, December 20th. They issued a market perform rating and a $3.50 price target on the stock.

Bitcoin Depot Price Performance

Shares of NASDAQ BTM 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. Bitcoin Depot has a 1-year low of $1.88 and a 1-year high of $11.15. The stock’s 50-day moving average is $2.34 and its 200 day moving average is $2.46.

Insider Activity

In other news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total transaction of $35,989.76. Following the transaction, the chief operating officer now directly owns 338,741 shares of the company’s stock, valued at $840,077.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total transaction of $35,989.76. Following the transaction, the chief operating officer now directly owns 338,741 shares of the company’s stock, valued at $840,077.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brandon Taylor Mintz sold 62,865 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $1.99, for a total value of $125,101.35. Following the transaction, the insider now directly owns 759,567 shares in the company, valued at $1,511,538.33. The disclosure for this sale can be found here. Insiders own 20.09% of the company’s stock.

Institutional Investors Weigh In On Bitcoin Depot

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Bitcoin Depot by 615.6% during the fourth quarter. Vanguard Group Inc. now owns 121,376 shares of the company’s stock valued at $392,000 after purchasing an additional 104,414 shares in the last quarter. Wellington Management Group LLP bought a new stake in Bitcoin Depot in the fourth quarter worth $35,000. Owl Creek Asset Management L.P. bought a new stake in Bitcoin Depot in the fourth quarter worth $68,000. Northern Trust Corp bought a new stake in Bitcoin Depot in the fourth quarter worth $61,000. Finally, Cohanzick Management LLC boosted its holdings in Bitcoin Depot by 54.4% in the fourth quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock worth $1,944,000 after acquiring an additional 212,000 shares in the last quarter. 9.18% of the stock is currently owned by institutional investors.

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.