Q2 2024 EPS Estimates for Bitcoin Depot Inc. (NASDAQ:BTM) Reduced by Analyst

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at Noble Financial lowered their Q2 2024 earnings per share 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 per share of $0.07 for the quarter, down from their previous estimate of $0.11. The consensus estimate for Bitcoin Depot’s current full-year earnings is $0.25 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.

Other research analysts have also issued research reports about the company. B. Riley decreased their target price on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. HC Wainwright decreased their target price on Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th.

Bitcoin Depot Trading Down 5.0 %

Shares of BTM opened at $1.90 on Wednesday. The stock has a 50 day moving average of $2.19 and a 200-day moving average of $2.36. The company has a current ratio of 0.81, a quick 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 $10.93.

Insider Activity at Bitcoin Depot

In related news, insider Brandon Taylor Mintz sold 62,865 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $1.99, for a total transaction of $125,101.35. Following the completion of the transaction, the insider now owns 759,567 shares in the company, valued at approximately $1,511,538.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brandon Taylor Mintz sold 62,865 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $1.99, for a total transaction of $125,101.35. Following the completion of the transaction, the insider now owns 759,567 shares in the company, valued at approximately $1,511,538.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total value of $35,989.76. Following the transaction, the chief operating officer now owns 338,741 shares of the company’s stock, valued at approximately $840,077.68. The disclosure for this sale can be found here. Insiders sold 127,377 shares of company stock worth $247,591 in the last 90 days. 20.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Meteora Capital LLC acquired a new position in Bitcoin Depot during the 3rd quarter worth $902,000. Shaolin Capital Management LLC bought a new stake in shares of Bitcoin Depot in the 3rd quarter worth $11,244,000. Exchange Traded Concepts LLC bought a new stake in shares of Bitcoin Depot in the 3rd quarter worth $703,000. Saba Capital Management L.P. bought a new stake in shares of Bitcoin Depot in the 3rd quarter worth $305,000. Finally, Cowen AND Company LLC bought a new stake in shares of Bitcoin Depot in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 9.18% 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.