B. Riley Weighs in on Bitcoin Depot Inc.’s Q1 2024 Earnings (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Analysts at B. Riley decreased their Q1 2024 earnings per share estimates for Bitcoin Depot in a research report issued on Tuesday, March 26th. B. Riley analyst H. Goetsch now expects that the company will post earnings of ($0.04) per share for the quarter, down from their previous forecast of $0.06. B. Riley currently has a “Buy” rating and a $4.00 target price on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.69) per share. B. Riley also issued estimates for Bitcoin Depot’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.04 EPS and FY2024 earnings at $0.08 EPS.

Several other research firms have also recently weighed in on BTM. Northland Securities assumed coverage on shares of Bitcoin Depot in a research note on Wednesday, December 20th. They set a “market perform” rating and a $3.50 target price for the company. HC Wainwright reduced their target price on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday.

Bitcoin Depot Price Performance

NASDAQ BTM opened at $1.90 on Thursday. The company has a debt-to-equity ratio of 3.16, a current ratio of 0.72 and a quick ratio of 0.72. Bitcoin Depot has a 12 month low of $1.88 and a 12 month high of $11.15. The stock’s 50 day moving average is $2.35 and its 200 day moving average is $2.47.

Insider Buying and Selling at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 14,512 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total transaction of $35,989.76. Following the sale, the chief operating officer now directly owns 338,741 shares in the company, valued at approximately $840,077.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 20.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new stake in Bitcoin Depot in the 3rd quarter valued at about $703,000. Cowen AND Company LLC bought a new position in Bitcoin Depot in the third quarter worth about $35,000. Meteora Capital LLC purchased a new stake in shares of Bitcoin Depot during the third quarter valued at about $902,000. Saba Capital Management L.P. bought a new stake in shares of Bitcoin Depot in the 3rd quarter valued at about $305,000. Finally, AWM Investment Company Inc. purchased a new position in shares of Bitcoin Depot in the 3rd quarter worth approximately $2,464,000. 9.18% of the stock is owned by hedge funds and other institutional investors.

Bitcoin Depot Company Profile

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.