Northland Capmk Forecasts Higher Earnings for Bitcoin Depot

Bitcoin Depot Inc. (NASDAQ:BTM) – Northland Capmk raised their Q3 2024 earnings estimates for shares of Bitcoin Depot in a research report issued to clients and investors on Thursday, November 14th. Northland Capmk analyst M. Grondahl now expects that the company will post earnings of $0.13 per share for the quarter, up from their previous forecast of $0.02. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share. Northland Capmk also issued estimates for Bitcoin Depot’s Q4 2024 earnings at ($0.06) EPS and FY2024 earnings at ($0.16) EPS.

Other equities research analysts have also recently issued reports about the company. 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 research note on Thursday, August 15th. Noble Financial raised Bitcoin Depot to a “strong-buy” rating in a research report on Thursday, October 17th.

Bitcoin Depot Trading Up 5.7 %

NASDAQ BTM opened at $2.04 on Monday. Bitcoin Depot has a 12 month low of $1.33 and a 12 month high of $3.70. The stock has a market capitalization of $122.62 million, a P/E ratio of -2.19 and a beta of -0.33. The firm’s 50-day moving average is $1.64 and its two-hundred day moving average is $1.71. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91.

Insider Transactions at Bitcoin Depot

In related news, COO Christopher Scott Buchanan sold 20,000 shares of the business’s stock in a transaction 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 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 document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 50,100 shares of company stock valued at $77,051. 70.23% of the stock is currently owned by company insiders.

Institutional Trading of Bitcoin Depot

A number of institutional investors have recently bought and sold shares of the business. Walleye Capital LLC raised its stake in Bitcoin Depot by 110.1% during the 3rd 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. Renaissance Technologies LLC boosted its position in shares of Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after purchasing an additional 26,000 shares during the period. Finally, Shaolin Capital Management LLC lifted its stake in Bitcoin Depot by 7.6% in the first quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after buying an additional 49,600 shares during the last quarter. 9.18% of the stock is owned by hedge funds and other institutional investors.

About Bitcoin Depot

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.