Brokers Set Expectations for Bitcoin Depot Inc.’s Q1 2024 Earnings (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities research analysts at HC Wainwright issued their Q1 2024 earnings per share estimates for Bitcoin Depot in a research report issued to clients and investors on Tuesday, March 26th. HC Wainwright analyst M. Colonnese expects that the company will post earnings of ($0.09) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $4.00 price target on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.69) per share. HC Wainwright also issued estimates for Bitcoin Depot’s Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.02 EPS, FY2024 earnings at ($0.11) EPS and FY2025 earnings at $0.20 EPS.

Other equities research analysts have also recently issued research reports about the stock. B. Riley lowered their price target on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday. Northland Securities initiated coverage on shares of Bitcoin Depot in a report on Wednesday, December 20th. They issued a “market perform” rating and a $3.50 price target for the company.

Bitcoin Depot Stock Down 0.8 %

Shares of BTM opened at $1.90 on Thursday. The business’s fifty day moving average price is $2.35 and its two-hundred day moving average price is $2.47. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.16. Bitcoin Depot has a 52 week low of $1.88 and a 52 week high of $11.15.

Hedge Funds Weigh In On Bitcoin Depot

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Bitcoin Depot by 615.6% during the fourth quarter. Vanguard Group Inc. now owns 121,376 shares of the company’s stock worth $392,000 after acquiring an additional 104,414 shares during the last quarter. Wellington Management Group LLP acquired a new position in Bitcoin Depot in the 4th quarter valued at $35,000. Owl Creek Asset Management L.P. bought a new position in Bitcoin Depot during the 4th quarter worth $68,000. Northern Trust Corp acquired a new stake in shares of Bitcoin Depot during the fourth quarter worth $61,000. Finally, Cohanzick Management LLC increased its position in Bitcoin Depot by 54.4% during the fourth quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock worth $1,944,000 after acquiring an additional 212,000 shares during the period. 9.18% of the stock is owned by institutional investors.

Insider Transactions at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 14,512 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the sale, the chief operating officer now owns 338,741 shares in the company, valued at $840,077.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 20.09% of the company’s stock.

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.