FY2024 EPS Estimates for Bitcoin Depot Reduced by Analyst

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities research analysts at B. Riley lowered their FY2024 earnings per share estimates for Bitcoin Depot in a research note issued to investors on Monday, November 11th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings of ($0.01) per share for the year, down from their previous estimate of $0.02. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.09) per share.

Other equities analysts also recently issued reports about the stock. Noble Financial raised shares of Bitcoin Depot to a “strong-buy” rating in a research note on Thursday, October 17th. HC Wainwright decreased their target price on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Bitcoin Depot Trading Down 2.0 %

NASDAQ:BTM opened at $2.43 on Thursday. The company has a 50-day moving average price of $1.62 and a 200-day moving average price of $1.72. The stock has a market cap of $146.07 million, a price-to-earnings ratio of -1.85 and a beta of -0.33. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 9.33. Bitcoin Depot has a 12 month low of $1.33 and a 12 month high of $3.70.

Bitcoin Depot (NASDAQ:BTM) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.16). Bitcoin Depot had a negative net margin of 3.10% and a negative return on equity of 307.37%. The company had revenue of $163.07 million during the quarter, compared to the consensus estimate of $148.49 million.

Hedge Funds Weigh In On Bitcoin Depot

Institutional investors and hedge funds have recently modified their holdings of the stock. Shaolin Capital Management LLC boosted its stake in Bitcoin Depot by 7.6% in the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after purchasing an additional 49,600 shares in the last quarter. Renaissance Technologies LLC raised its holdings in 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 buying an additional 26,000 shares during the last quarter. Finally, Walleye Capital LLC lifted its stake in shares of Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after buying an additional 12,337 shares in the last quarter. 9.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total transaction of $31,200.00. Following the completion of the transaction, the chief operating officer now owns 241,276 shares in the company, valued at approximately $376,390.56. The trade was a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 50,100 shares of company stock worth $77,051 in the last three months. 70.23% of the stock is owned by corporate insiders.

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.