B. Riley Issues Positive Estimate for Bitcoin Depot Earnings

Bitcoin Depot Inc. (NASDAQ:BTM) – Research analysts at B. Riley raised their FY2024 earnings per share estimates for shares of Bitcoin Depot in a research note issued to investors on Thursday, November 14th. B. Riley analyst H. Goetsch now anticipates that the company will post earnings per share of $0.11 for the year, up from their previous estimate of ($0.01). The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share. B. Riley also issued estimates for Bitcoin Depot’s Q4 2024 earnings at $0.04 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.05 EPS and Q4 2025 earnings at $0.07 EPS.

Bitcoin Depot (NASDAQ:BTM) last announced its earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). Bitcoin Depot had a negative net margin of 2.28% and a negative return on equity of 213.00%. The business had revenue of $163.07 million during the quarter, compared to the consensus estimate of $148.49 million.

Several other research analysts have also recently commented on the stock. Noble Financial raised shares of Bitcoin Depot to a “strong-buy” rating in a report on Thursday, October 17th. HC Wainwright dropped their price objective on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a report on Thursday, August 15th.

Bitcoin Depot Price Performance

NASDAQ:BTM opened at $2.00 on Monday. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $120.23 million, a price-to-earnings ratio of -2.15 and a beta of -0.33. Bitcoin Depot has a 52 week low of $1.33 and a 52 week high of $3.70. The firm’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $1.71.

Insider Buying and Selling at Bitcoin Depot

In related news, COO Christopher Scott Buchanan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total transaction of $31,200.00. Following the sale, the chief operating officer now owns 241,276 shares in the company, valued at approximately $376,390.56. This trade represents a 7.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 50,100 shares of company stock valued at $77,051 in the last ninety days. 70.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Shaolin Capital Management LLC boosted its holdings in shares of Bitcoin Depot by 7.6% in the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after purchasing an additional 49,600 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Bitcoin Depot by 122.1% during the 2nd 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 boosted its stake in Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after buying an additional 12,337 shares in the last quarter. 9.18% of the stock is currently owned by institutional investors and hedge funds.

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.