Equities Analysts Issue Forecasts for Bitcoin Depot Inc.’s Q1 2024 Earnings (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – B. Riley dropped their Q1 2024 earnings per share estimates for shares of Bitcoin Depot in a note issued to investors on Tuesday, March 26th. B. Riley analyst H. Goetsch now anticipates that the company will post earnings of ($0.04) per share for the quarter, down from their prior estimate of $0.06. B. Riley has a “Buy” rating and a $4.00 price target 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.

A number of other research analysts have also weighed in on the company. Northland Securities assumed coverage on Bitcoin Depot in a report on Wednesday, December 20th. They set a “market perform” rating and a $3.50 target price for the company. HC Wainwright cut their price objective on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday.

Bitcoin Depot Trading Down 12.4 %

BTM stock opened at $1.91 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.16. Bitcoin Depot has a twelve month low of $1.88 and a twelve month high of $11.15. The stock has a 50-day simple moving average of $2.35 and a two-hundred day simple moving average of $2.47.

Insider Buying and Selling at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the sale, the chief operating officer now owns 338,741 shares in the company, valued at $840,077.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 20.09% of the company’s stock.

Hedge Funds Weigh In On Bitcoin Depot

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cowen AND Company LLC bought a new position in shares of Bitcoin Depot during the third quarter valued at approximately $35,000. Wellington Management Group LLP bought a new position in shares of Bitcoin Depot during the fourth quarter valued at approximately $35,000. Vanguard Group Inc. bought a new position in shares of Bitcoin Depot during the third quarter valued at approximately $45,000. Northern Trust Corp bought a new position in shares of Bitcoin Depot during the fourth quarter valued at approximately $61,000. Finally, Owl Creek Asset Management L.P. bought a new position in shares of Bitcoin Depot during the fourth quarter valued at approximately $68,000. Institutional investors own 9.18% of the company’s stock.

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.