Noble Financial Forecasts Reduced Earnings for Bitcoin Depot

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at Noble Financial lowered their Q4 2024 EPS estimates for shares of Bitcoin Depot in a report issued on Thursday, November 14th. Noble Financial analyst P. Mccann now expects that the company will earn ($0.01) per share for the quarter, down from their prior estimate of $0.01. Noble Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.10) per share. Noble Financial also issued estimates for Bitcoin Depot’s FY2025 earnings at $0.31 EPS.

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

Bitcoin Depot Stock Performance

Shares of BTM opened at $2.00 on Friday. The stock has a 50-day moving average of $1.63 and a two-hundred day 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. The stock has a market cap of $120.22 million, a P/E ratio of -1.53 and a beta of -0.33. Bitcoin Depot has a one year low of $1.33 and a one year high of $3.70.

Bitcoin Depot (NASDAQ:BTM) last released its earnings results 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.

Institutional Trading of Bitcoin Depot

Several institutional investors have recently bought and sold shares of BTM. Walleye Capital LLC increased 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 worth $37,000 after purchasing an additional 12,337 shares in the last quarter. Renaissance Technologies LLC increased its stake in Bitcoin Depot by 122.1% during the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after buying an additional 26,000 shares in the last quarter. Finally, Shaolin Capital Management LLC increased its stake in Bitcoin Depot by 7.6% during the 1st 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 in the last quarter. 9.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total transaction of $31,200.00. Following the sale, the chief operating officer now owns 241,276 shares of the company’s stock, valued at $376,390.56. This trade represents a 7.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 50,100 shares of company stock worth $77,051 over the last three months. Company insiders own 70.23% of the company’s stock.

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.