Bitcoin Depot (NASDAQ:BTM) Given Buy Rating at HC Wainwright

Bitcoin Depot (NASDAQ:BTM)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $4.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 189.23% from the company’s previous close.

Bitcoin Depot Price Performance

NASDAQ:BTM traded down $0.01 during mid-day trading on Tuesday, reaching $1.38. 954,577 shares of the company were exchanged, compared to its average volume of 338,120. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33. The stock has a market cap of $83.52 million, a PE ratio of -1.49 and a beta of 0.10. Bitcoin Depot has a 12 month low of $0.93 and a 12 month high of $3.52. The company has a fifty day moving average of $1.44 and a 200 day moving average of $1.61.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Walleye Capital LLC lifted its stake in shares of Bitcoin Depot by 110.1% during the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after acquiring an additional 12,337 shares during the period. Blue Owl Capital Holdings LP raised its holdings in Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after purchasing an additional 15,000 shares during the last quarter. Renaissance Technologies LLC lifted its position in Bitcoin Depot by 96.4% during the 4th 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 period. Radcliffe Capital Management L.P. lifted its holdings in Bitcoin Depot by 134.3% in the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock valued at $463,000 after buying an additional 163,854 shares during the period. Finally, Two Sigma Advisers LP bought a new position in Bitcoin Depot in the fourth quarter valued at approximately $267,000. 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. 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.