Bitcoin Depot (NASDAQ:BTM) Upgraded to Strong-Buy by Noble Financial

Bitcoin Depot (NASDAQ:BTM) was upgraded by equities research analysts at Noble Financial to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks.com reports.

Separately, HC Wainwright decreased their target price on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Bitcoin Depot Stock Performance

BTM stock opened at $1.56 on Thursday. The stock has a market capitalization of $93.00 million, a price-to-earnings ratio of -0.83 and a beta of -0.35. The stock’s fifty day moving average is $1.59 and its two-hundred day moving average is $1.72. Bitcoin Depot has a 1 year low of $1.33 and a 1 year high of $3.70. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The company had revenue of $163.07 million during the quarter, compared to analyst estimates of $148.49 million. Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%. On average, research analysts predict that Bitcoin Depot will post -0.09 EPS for the current year.

Insider Activity at Bitcoin Depot

In other Bitcoin Depot news, major shareholder Andrew Mitchell Paul acquired 19,422 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $1.54 per share, with a total value of $29,909.88. Following the completion of the transaction, the insider now owns 19,422 shares in the company, valued at $29,909.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Christopher Scott Buchanan sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total transaction of $31,200.00. Following the completion of the sale, the chief operating officer now directly owns 241,276 shares of the company’s stock, valued at approximately $376,390.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Andrew Mitchell Paul bought 19,422 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $1.54 per share, for a total transaction of $29,909.88. Following the acquisition, the insider now directly owns 19,422 shares in the company, valued at approximately $29,909.88. The disclosure for this purchase can be found here. In the last quarter, insiders bought 155,786 shares of company stock valued at $257,817 and sold 70,100 shares valued at $109,637. 20.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bitcoin Depot

A number of hedge funds have recently bought and sold shares of BTM. Shaolin Capital Management LLC increased its position in Bitcoin Depot by 7.6% during the first 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 period. Privium Fund Management UK Ltd bought a new position in shares of Bitcoin Depot during the 1st quarter worth about $60,000. Finally, Renaissance Technologies LLC raised its position in shares of Bitcoin Depot by 122.1% during the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after buying an additional 26,000 shares during the last quarter. 9.18% of the stock is currently owned by institutional investors.

Bitcoin Depot Company Profile

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.