Bitcoin Depot (NASDAQ:BTM) Trading 1.6% Higher – Time to Buy?

by · The Markets Daily

Bitcoin Depot Inc. (NASDAQ:BTM – Get Free Report)’s share price was up 1.6% during trading on Monday . The stock traded as high as $1.33 and last traded at $1.30. Approximately 730,780 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 895,360 shares. The stock had previously closed at $1.28.

Analyst Upgrades and Downgrades

BTM has been the topic of several recent analyst reports. Wall Street Zen lowered Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Wednesday, October 8th. Finally, B. Riley downgraded Bitcoin Depot from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bitcoin Depot presently has an average rating of “Moderate Buy” and an average price target of $5.83.

Check Out Our Latest Research Report on Bitcoin Depot

Bitcoin Depot Stock Performance

The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.86. The stock has a market cap of $93.99 million, a P/E ratio of 5.61 and a beta of 0.85. The firm’s 50-day moving average is $1.83 and its two-hundred day moving average is $3.50.

Bitcoin Depot (NASDAQ:BTM – Get Free Report) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04. The company had revenue of $162.48 million for the quarter, compared to analyst estimates of $153.11 million. Bitcoin Depot had a net margin of 1.44% and a return on equity of 791.02%.

Insider Buying and Selling

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 7,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $3.82, for a total transaction of $26,740.00. Following the transaction, the chief operating officer directly owned 133,276 shares in the company, valued at $509,114.32. This trade represents a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 21,000 shares of company stock worth $55,580 over the last 90 days. Corporate insiders own 51.95% of the company’s stock.

Hedge Funds Weigh In On Bitcoin Depot

Institutional investors have recently made changes to their positions in the business. Heron Bay Capital Management bought a new stake in Bitcoin Depot during the 2nd quarter valued at approximately $327,000. Truist Financial Corp bought a new position in Bitcoin Depot in the 2nd quarter worth approximately $71,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Bitcoin Depot during the second quarter worth approximately $259,000. Evergreen Capital Management LLC bought a new stake in shares of Bitcoin Depot in the second quarter valued at approximately $471,000. Finally, Vanguard Group Inc. boosted its position in shares of Bitcoin Depot by 54.9% in the third quarter. Vanguard Group Inc. now owns 951,318 shares of the company’s stock valued at $3,196,000 after acquiring an additional 337,070 shares during the period. 9.18% of the stock is currently owned by institutional investors.

About Bitcoin Depot

(Get Free Report)

Bitcoin Depot, Inc operates one of the largest networks of self-service cryptocurrency kiosks in North America, enabling customers to buy and sell Bitcoin and other digital assets using cash or debit cards. Through a partnership model with convenience stores, gas stations and retail outlets, the company provides an accessible on-ramp and off-ramp for individuals entering the cryptocurrency market without requiring a bank account or extensive technical knowledge. Transactions are completed in real time at the point of sale, with verification and receipt provided via email or mobile phone.

Founded in 2016 and headquartered in Atlanta, Georgia, Bitcoin Depot began as a privately held startup focused on expanding retail access to digital currencies.

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