Northland Capmk Predicts Stronger Earnings for Bitcoin Depot

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at Northland Capmk raised their FY2024 earnings per share (EPS) estimates for Bitcoin Depot in a note issued to investors on Wednesday, January 22nd. Northland Capmk analyst M. Grondahl now anticipates that the company will earn $0.02 per share for the year, up from their previous estimate of ($0.16). The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.11) per share. Northland Capmk also issued estimates for Bitcoin Depot’s Q4 2024 earnings at $0.11 EPS, Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS and FY2025 earnings at $0.43 EPS.

Separately, Noble Financial upgraded shares of Bitcoin Depot to a “strong-buy” rating in a report on Thursday, October 17th.

Bitcoin Depot Price Performance

Shares of NASDAQ:BTM opened at $1.79 on Friday. The stock’s 50 day moving average is $1.77 and its 200-day moving average is $1.68. Bitcoin Depot has a twelve month low of $1.33 and a twelve month high of $3.52. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33. The firm has a market capitalization of $108.10 million and a price-to-earnings ratio of -1.92.

Institutional Investors Weigh In On Bitcoin Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTM. 272 Capital LP purchased a new position in shares of Bitcoin Depot during the 3rd quarter valued at $401,000. Walleye Capital LLC lifted its position in shares of Bitcoin Depot by 110.1% during the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after acquiring an additional 12,337 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after acquiring an additional 26,000 shares during the period. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Company Profile

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. Its customers can buy and sell bitcoin, litecoin, and ethereum cryptocurrencies using the BTM kiosk network and other services. The company also engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering, as well as its website through over-the-counter trade.