Bitcoin Depot Inc. (NASDAQ:BTM) to Post Q1 2024 Earnings of ($0.09) Per Share, HC Wainwright Forecasts

Bitcoin Depot Inc. (NASDAQ:BTM) – Analysts at HC Wainwright issued their Q1 2024 earnings per share estimates for Bitcoin Depot in a note issued to investors on Tuesday, March 26th. HC Wainwright analyst M. Colonnese anticipates that the company will post earnings of ($0.09) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $4.00 price target on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.69) per share. HC Wainwright also issued estimates for Bitcoin Depot’s Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.02 EPS, FY2024 earnings at ($0.11) EPS and FY2025 earnings at $0.20 EPS.

Several other research firms have also recently weighed in on BTM. Northland Securities assumed coverage on Bitcoin Depot in a research note on Wednesday, December 20th. They set a “market perform” rating and a $3.50 target price for the company. B. Riley lowered their price target on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday.

Bitcoin Depot Stock Down 12.4 %

Shares of BTM stock opened at $1.91 on Thursday. The stock has a 50 day simple moving average of $2.35 and a 200 day simple moving average of $2.47. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.16. Bitcoin Depot has a 1 year low of $1.88 and a 1 year high of $11.15.

Insider Activity at Bitcoin Depot

In related news, COO Christopher Scott Buchanan sold 14,512 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total value of $35,989.76. Following the completion of the sale, the chief operating officer now directly owns 338,741 shares in the company, valued at $840,077.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 20.09% of the stock is currently owned by company insiders.

Institutional Trading of Bitcoin Depot

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meteora Capital LLC bought a new stake in Bitcoin Depot during the third quarter valued at $902,000. Shaolin Capital Management LLC bought a new stake in Bitcoin Depot during the third quarter valued at $11,244,000. Exchange Traded Concepts LLC bought a new stake in Bitcoin Depot during the third quarter valued at $703,000. Saba Capital Management L.P. bought a new stake in Bitcoin Depot during the third quarter valued at $305,000. Finally, Cowen AND Company LLC bought a new stake in Bitcoin Depot during the third quarter valued at $35,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

About Bitcoin Depot

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.