Bitcoin Depot (NASDAQ:BTM) Stock Rating Upgraded by Northland Securities

Northland Securities upgraded shares of Bitcoin Depot (NASDAQ:BTM) from a market perform rating to an outperform rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have $5.00 price objective on the stock.

BTM has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Bitcoin Depot in a research note on Tuesday, March 18th. B. Riley reaffirmed a “buy” rating and issued a $4.70 price objective (up from $4.50) on shares of Bitcoin Depot in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $4.83.

Bitcoin Depot Stock Performance

Shares of Bitcoin Depot stock opened at $2.68 on Friday. Bitcoin Depot has a one year low of $0.93 and a one year high of $3.52. The firm has a market capitalization of $171.36 million, a price-to-earnings ratio of -2.88 and a beta of -0.27. The business has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.58. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91.

Bitcoin Depot (NASDAQ:BTM) last issued its earnings results on Thursday, May 15th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 2.28%.

Insider Activity

In other news, COO Christopher Scott Buchanan sold 29,524 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.44, for a total value of $42,514.56. Following the completion of the sale, the chief operating officer now owns 189,752 shares in the company, valued at $273,242.88. This represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 70.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Bitcoin Depot

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of Bitcoin Depot by 96.4% in the fourth quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock valued at $237,000 after purchasing an additional 71,700 shares during the last quarter. Blue Owl Capital Holdings LP increased its holdings in Bitcoin Depot by 480.0% during the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after buying an additional 15,000 shares during the last quarter. Radcliffe Capital Management L.P. increased its holdings in Bitcoin Depot by 134.3% during the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock worth $463,000 after buying an additional 163,854 shares during the last quarter. Welch Capital Partners LLC NY increased its holdings in Bitcoin Depot by 85.1% during the first quarter. Welch Capital Partners LLC NY now owns 966,250 shares of the company’s stock worth $1,459,000 after buying an additional 444,177 shares during the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in Bitcoin Depot during the first quarter worth about $73,000. Hedge funds and other institutional investors 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.