Noble Financial Expects Increased Earnings for Bitcoin Depot

Bitcoin Depot Inc. (NASDAQ:BTM) – Stock analysts at Noble Financial increased their FY2024 earnings per share estimates for shares of Bitcoin Depot in a report issued on Thursday, November 14th. Noble Financial analyst P. Mccann now anticipates that the company will post earnings per share of $0.03 for the year, up from their prior estimate of $0.02. Noble Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share.

Separately, HC Wainwright reduced their price target on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, August 15th.

Bitcoin Depot Stock Performance

BTM stock opened at $2.04 on Monday. Bitcoin Depot has a twelve month low of $1.33 and a twelve month high of $3.70. The firm has a market cap of $122.62 million, a price-to-earnings ratio of -2.19 and a beta of -0.33. The business’s fifty day simple moving average is $1.64 and its two-hundred day simple moving average is $1.71. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33.

Institutional Investors Weigh In On Bitcoin Depot

Several large investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in Bitcoin Depot by 122.1% during the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after buying an additional 26,000 shares during the period. Walleye Capital LLC boosted its position in Bitcoin Depot by 110.1% during the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after acquiring an additional 12,337 shares in the last quarter. Finally, Shaolin Capital Management LLC increased 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 acquiring an additional 49,600 shares during the period. Institutional investors own 9.18% of the company’s stock.

Insiders Place Their Bets

In related news, COO Christopher Scott Buchanan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total value of $31,200.00. Following the completion of the sale, the chief operating officer now directly owns 241,276 shares of the company’s stock, valued at $376,390.56. This represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 50,100 shares of company stock worth $77,051 in the last ninety days. 70.23% of the stock is owned by company insiders.

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.