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

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at Noble Financial reduced their Q2 2024 EPS estimates for shares of Bitcoin Depot in a research report issued 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 forecast of $0.11. The consensus estimate for Bitcoin Depot’s current full-year earnings is $0.23 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.

BTM has been the subject of several other research reports. HC Wainwright decreased their price target 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 reduced their target price on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th.

Bitcoin Depot Trading Down 6.7 %

Shares of BTM stock opened at $1.80 on Wednesday. Bitcoin Depot has a 12-month low of $1.36 and a 12-month high of $10.93. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day moving average of $2.16 and a 200-day moving average of $2.35.

Insiders Place Their Bets

In other Bitcoin Depot news, insider Brandon Taylor Mintz sold 62,865 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $1.99, for a total transaction of $125,101.35. Following the sale, the insider now directly owns 759,567 shares of the company’s stock, valued at approximately $1,511,538.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Christopher Scott Buchanan sold 14,512 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total value of $35,989.76. Following the sale, the chief operating officer now directly owns 338,741 shares of the company’s stock, valued at approximately $840,077.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brandon Taylor Mintz sold 62,865 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 759,567 shares in the company, valued at $1,511,538.33. The disclosure for this sale can be found here. Insiders have sold 127,377 shares of company stock valued at $247,591 in the last three months. 20.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bitcoin Depot

A number of institutional investors and hedge funds have recently modified their holdings of the company. Shaolin Capital Management LLC bought a new position in Bitcoin Depot in the 3rd quarter valued at about $11,244,000. AWM Investment Company Inc. bought a new position in Bitcoin Depot in the 3rd quarter valued at about $2,464,000. Radcliffe Capital Management L.P. bought a new position in Bitcoin Depot in the 3rd quarter valued at about $1,075,000. Meteora Capital LLC bought a new position in Bitcoin Depot in the 3rd quarter valued at about $902,000. Finally, Exchange Traded Concepts LLC bought a new position in Bitcoin Depot in the 3rd quarter valued at about $703,000. 9.18% of the stock is owned by institutional investors.

About Bitcoin Depot

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.