Bitcoin Depot Inc. (NASDAQ:BTM) Major Shareholder Acquires $162,354.64 in Stock

Bitcoin Depot Inc. (NASDAQ:BTM) major shareholder Andrew Mitchell Paul bought 97,804 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $1.66 per share, with a total value of $162,354.64. Following the acquisition, the insider now directly owns 117,146 shares of the company’s stock, valued at $194,462.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Andrew Mitchell Paul also recently made the following trade(s):

• On Monday, August 12th, Andrew Mitchell Paul purchased 38,560 shares of Bitcoin Depot stock. The shares were acquired at an average price of $1.70 per share, for a total transaction of $65,552.00.
• On Monday, August 5th, Andrew Mitchell Paul acquired 19,422 shares of Bitcoin Depot stock. The shares were acquired at an average cost of $1.54 per share, with a total value of $29,909.88.

Bitcoin Depot Stock Up 2.0 %

Shares of NASDAQ BTM opened at $1.56 on Wednesday. Bitcoin Depot Inc. has a 12-month low of $1.33 and a 12-month high of $3.70. The stock has a market cap of $93.00 million, a PE ratio of -0.83 and a beta of -0.34. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 9.33. The company has a 50-day moving average of $1.64 and a 200 day moving average of $1.81.

Bitcoin Depot (NASDAQ:BTM) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). Bitcoin Depot had a negative net margin of 3.10% and a negative return on equity of 307.37%. The business had revenue of $163.07 million for the quarter, compared to analysts’ expectations of $148.49 million. As a group, sell-side analysts predict that Bitcoin Depot Inc. will post -0.09 EPS for the current fiscal year.

Institutional Trading of Bitcoin Depot

Several hedge funds have recently made changes to their positions in BTM. Privium Fund Management UK Ltd purchased a new stake in shares of Bitcoin Depot in the 1st quarter valued at approximately $60,000. Owl Creek Asset Management L.P. acquired a new position in shares of Bitcoin Depot in the 4th quarter worth approximately $68,000. Renaissance Technologies LLC lifted its holdings in shares of Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after acquiring an additional 26,000 shares during the last quarter. Shaolin Capital Management LLC lifted its holdings in shares of Bitcoin Depot by 7.6% in the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after acquiring an additional 49,600 shares during the last quarter. Finally, Cohanzick Management LLC lifted its holdings in shares of Bitcoin Depot by 54.4% in the 4th 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 last quarter. Hedge funds and other institutional investors own 9.18% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright dropped their price objective on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Thursday, August 15th.

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.