HC Wainwright Lowers Bitcoin Depot (NASDAQ:BTM) Price Target to $4.00

Bitcoin Depot (NASDAQ:BTM) had its price target trimmed by HC Wainwright from $5.00 to $4.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Bitcoin Depot’s Q1 2024 earnings at ($0.09) EPS, 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, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at $0.20 EPS.

Separately, Northland Securities initiated coverage on Bitcoin Depot in a research report on Wednesday, December 20th. They set a market perform rating and a $3.50 target price on the stock.

Bitcoin Depot Price Performance

BTM stock opened at $1.90 on Tuesday. Bitcoin Depot has a 12-month low of $1.88 and a 12-month high of $11.15. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.16. The business has a 50 day moving average of $2.35 and a 200-day moving average of $2.47.

Insider Transactions at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 14,512 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total value of $35,989.76. Following the transaction, the chief operating officer now owns 338,741 shares of the company’s stock, valued at $840,077.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 20.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Meteora Capital LLC bought a new position in Bitcoin Depot in the third quarter valued at $902,000. Shaolin Capital Management LLC bought a new position in Bitcoin Depot in the third quarter valued at $11,244,000. Exchange Traded Concepts LLC bought a new position in Bitcoin Depot in the third quarter valued at $703,000. Saba Capital Management L.P. bought a new position in Bitcoin Depot in the third quarter valued at $305,000. Finally, Cowen AND Company LLC bought a new position in Bitcoin Depot in the third quarter valued at $35,000. Institutional investors own 9.18% of the company’s stock.

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.