Noble Financial Analysts Cut Earnings Estimates for Bitcoin Depot Inc. (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Stock analysts at Noble Financial decreased their Q4 2024 earnings per share estimates for Bitcoin Depot in a note issued to investors on Monday, April 22nd. Noble Financial analyst M. Kupinski now expects that the company will earn $0.14 per share for the quarter, down from their previous estimate of $0.15. 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 FY2025 earnings at $0.45 EPS.

A number of other analysts have also commented on the company. HC Wainwright decreased their price objective on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. B. Riley decreased their price target on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th.

Bitcoin Depot Stock Performance

BTM opened at $1.80 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.13. Bitcoin Depot has a 52 week low of $1.36 and a 52 week high of $10.86. The business’s fifty day simple moving average is $2.15 and its 200 day simple moving average is $2.35.

Hedge Funds Weigh In On Bitcoin Depot

Large investors have recently modified their holdings of the company. Cowen AND Company LLC purchased a new position in shares of Bitcoin Depot in the 3rd quarter worth about $35,000. Owl Creek Asset Management L.P. purchased a new stake in shares of Bitcoin Depot during the 4th quarter valued at about $68,000. Saba Capital Management L.P. purchased a new stake in shares of Bitcoin Depot during the 3rd quarter valued at about $305,000. Kepos Capital LP purchased a new stake in shares of Bitcoin Depot during the 3rd quarter valued at about $368,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Bitcoin Depot during the 3rd quarter valued at about $703,000. 9.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Brandon Taylor Mintz sold 62,865 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.99, for a total value of $125,101.35. Following the transaction, the insider now directly owns 759,567 shares in the company, valued at approximately $1,511,538.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Brandon Taylor Mintz sold 62,865 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.99, for a total value of $125,101.35. Following the transaction, the insider now directly owns 759,567 shares in the company, valued at approximately $1,511,538.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Christopher Scott Buchanan sold 14,512 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 338,741 shares in the company, valued at $840,077.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,034,353 shares of company stock valued at $5,247,590. Insiders own 20.09% 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.