HC Wainwright Reiterates Buy Rating for Bitcoin Depot (NASDAQ:BTM)

Bitcoin Depot (NASDAQ:BTM)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $4.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 183.69% from the company’s current price.

Bitcoin Depot Stock Performance

NASDAQ:BTM opened at $1.41 on Tuesday. Bitcoin Depot has a 12 month low of $0.93 and a 12 month high of $3.52. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $85.15 million, a PE ratio of -1.52 and a beta of 0.10. The business’s fifty day moving average price is $1.44 and its 200 day moving average price is $1.61.

Institutional Investors Weigh In On Bitcoin Depot

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Owl Capital Holdings LP increased its stake in Bitcoin Depot by 480.0% in the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock valued at $29,000 after purchasing an additional 15,000 shares during the last quarter. Walleye Capital LLC boosted its holdings in shares of Bitcoin Depot by 110.1% in the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after buying an additional 12,337 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Bitcoin Depot by 96.4% in the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock valued at $237,000 after buying an additional 71,700 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in Bitcoin Depot during the 4th quarter worth $267,000. Finally, 272 Capital LP acquired a new stake in Bitcoin Depot during the 3rd quarter worth $401,000. Institutional investors and hedge funds 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. 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.