Bitcoin Depot (NASDAQ:BTM) Given “Buy” Rating at B. Riley

B. Riley restated their buy rating on shares of Bitcoin Depot (NASDAQ:BTM) in a research note published on Wednesday,Benzinga reports. The firm currently has a $4.70 price target on the stock, up from their prior price target of $4.50.

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Bitcoin Depot in a research note on Tuesday.

Bitcoin Depot Price Performance

BTM stock opened at $1.41 on Wednesday. Bitcoin Depot has a 52 week low of $0.93 and a 52 week high of $3.52. 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 firm has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $1.61. The stock has a market capitalization of $85.15 million, a P/E ratio of -1.52 and a beta of 0.10.

Hedge Funds Weigh In On Bitcoin Depot

Several hedge funds and other institutional investors have recently modified their holdings of the business. Welch Capital Partners LLC NY lifted its stake in Bitcoin Depot by 480.1% in the 4th quarter. Welch Capital Partners LLC NY now owns 522,073 shares of the company’s stock worth $846,000 after purchasing an additional 432,073 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Bitcoin Depot in the fourth quarter valued at approximately $267,000. Two Sigma Investments LP purchased a new position in Bitcoin Depot during the fourth quarter worth approximately $427,000. Blue Owl Capital Holdings LP lifted its position 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 in the last quarter. Finally, Radcliffe Capital Management L.P. boosted its stake 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. 9.18% of the stock is owned by hedge funds and other institutional investors.

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.