Brokers Issue Forecasts for Bitcoin Depot Inc.’s Q2 2024 Earnings (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Noble Financial dropped their Q2 2024 earnings estimates for shares of Bitcoin Depot in a report released on Monday, April 22nd. Noble Financial analyst M. Kupinski now expects that the company will post earnings of $0.07 per share for the quarter, down from their previous estimate of $0.11. The consensus estimate for Bitcoin Depot’s current full-year earnings is $0.25 per share. Noble Financial also issued estimates for Bitcoin Depot’s Q3 2024 earnings at $0.12 EPS and FY2024 earnings at $0.32 EPS.

Several other analysts also recently commented on BTM. HC Wainwright reduced their target price on shares of Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. B. Riley cut their price objective on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, March 26th.

Bitcoin Depot Stock Performance

Shares of BTM stock opened at $1.93 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.13. The company has a 50-day simple moving average of $2.18 and a 200 day simple moving average of $2.35. Bitcoin Depot has a 52 week low of $1.36 and a 52 week high of $10.93.

Insider Buying and Selling at Bitcoin Depot

In other news, insider Brandon Taylor Mintz sold 62,865 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $1.99, for a total value of $125,101.35. Following the completion of the transaction, the insider now directly owns 759,567 shares in the company, valued at approximately $1,511,538.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the transaction, 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 is available through this link. Also, insider Brandon Taylor Mintz sold 62,865 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $1.99, for a total transaction of $125,101.35. Following the completion of the transaction, the insider now owns 759,567 shares of the company’s stock, valued at $1,511,538.33. The disclosure for this sale can be found here. Insiders sold 127,377 shares of company stock valued at $247,591 in the last quarter. Company insiders own 20.09% of the company’s stock.

Hedge Funds Weigh In On Bitcoin Depot

A number of institutional investors have recently added to or reduced their stakes in BTM. Exchange Traded Concepts LLC acquired a new position in Bitcoin Depot during the 3rd quarter worth approximately $703,000. Cowen AND Company LLC acquired a new position in Bitcoin Depot during the 3rd quarter worth approximately $35,000. Meteora Capital LLC acquired a new position in Bitcoin Depot during the 3rd quarter worth approximately $902,000. Saba Capital Management L.P. acquired a new position in Bitcoin Depot during the 3rd quarter worth approximately $305,000. Finally, AWM Investment Company Inc. acquired a new position in Bitcoin Depot during the 3rd quarter worth approximately $2,464,000. 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. 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.