FY2024 EPS Estimates for Bitcoin Depot Lowered by B. Riley

Bitcoin Depot Inc. (NASDAQ:BTM) – Research analysts at B. Riley dropped their FY2024 earnings per share estimates for shares of Bitcoin Depot in a research note issued to investors on Monday, November 11th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings of ($0.01) per share for the year, down from their prior estimate of $0.02. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.09) per share.

Bitcoin Depot (NASDAQ:BTM) last announced its earnings results on Thursday, August 15th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The business had revenue of $163.07 million for the quarter, compared to analysts’ expectations of $148.49 million. Bitcoin Depot had a negative net margin of 3.10% and a negative return on equity of 307.37%.

Other equities research analysts have also issued research reports about the stock. Noble Financial upgraded shares of Bitcoin Depot to a “strong-buy” rating in a report on Thursday, October 17th. HC Wainwright dropped their target price on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, August 15th.

Bitcoin Depot Stock Down 1.2 %

Shares of BTM stock opened at $2.48 on Thursday. The company has a market capitalization of $149.07 million, a price-to-earnings ratio of -1.89 and a beta of -0.33. The company’s fifty day moving average price is $1.60 and its 200-day moving average price is $1.71. Bitcoin Depot has a one year low of $1.33 and a one year high of $3.70. The company has a debt-to-equity ratio of 9.33, a current ratio of 1.16 and a quick ratio of 1.16.

Hedge Funds Weigh In On Bitcoin Depot

An institutional investor recently raised its position in Bitcoin Depot stock. Shaolin Capital Management LLC raised its stake in shares of Bitcoin Depot Inc. (NASDAQ:BTM) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 699,600 shares of the company’s stock after buying an additional 49,600 shares during the period. Shaolin Capital Management LLC owned about 1.17% of Bitcoin Depot worth $1,326,000 as of its most recent SEC filing. 9.18% of the stock is owned by institutional investors.

Insider Activity at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total transaction of $31,200.00. Following the sale, the chief operating officer now owns 241,276 shares in the company, valued at approximately $376,390.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 50,100 shares of company stock valued at $77,051 in the last three months. 70.23% of the stock is currently owned by company insiders.

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.