FY2024 EPS Estimates for Bitcoin Depot Reduced by B. Riley

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities research analysts at B. Riley reduced their FY2024 earnings per share (EPS) estimates for Bitcoin Depot in a research note issued to investors on Monday, November 11th. B. Riley analyst H. Goetsch now anticipates that the company will earn ($0.01) per share for the year, down from their previous forecast of $0.02. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.10) per share.

Bitcoin Depot (NASDAQ:BTM) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). Bitcoin Depot had a negative net margin of 3.10% and a negative return on equity of 307.37%. The firm had revenue of $163.07 million during the quarter, compared to analyst estimates of $148.49 million.

A number of other analysts also recently weighed in on BTM. Noble Financial raised shares of Bitcoin Depot to a “strong-buy” rating in a research report on Thursday, October 17th. HC Wainwright cut their price target on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Bitcoin Depot Stock Performance

NASDAQ:BTM opened at $2.00 on Thursday. The company has a market capitalization of $120.22 million, a PE ratio of -1.53 and a beta of -0.33. The company has a 50 day simple moving average of $1.63 and a two-hundred day simple moving average of $1.72. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16. Bitcoin Depot has a fifty-two week low of $1.33 and a fifty-two week high of $3.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BTM. Walleye Capital LLC boosted its stake in shares of Bitcoin Depot by 110.1% during the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after purchasing an additional 12,337 shares during the period. Renaissance Technologies LLC boosted its position in Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Shaolin Capital Management LLC raised its stake in shares of Bitcoin Depot by 7.6% in the first quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after buying an additional 49,600 shares during the period. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Insider Transactions at Bitcoin Depot

In related news, COO Christopher Scott Buchanan sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total value of $31,200.00. Following the sale, the chief operating officer now directly owns 241,276 shares in the company, valued at approximately $376,390.56. The trade was a 7.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 50,100 shares of company stock worth $77,051 in the last ninety days. Company insiders own 70.23% of the company’s stock.

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.