Bitcoin Depot (NASDAQ:BTM) Given New $4.00 Price Target at B. Riley

Bitcoin Depot (NASDAQ:BTM) had its target price cut by B. Riley from $6.00 to $4.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Bitcoin Depot’s Q1 2024 earnings at ($0.04) EPS, Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.04 EPS and FY2024 earnings at $0.08 EPS.

BTM has been the subject of a number of other research reports. HC Wainwright lowered their price target on Bitcoin Depot from $5.00 to $4.00 and set a buy rating for the company in a report on Tuesday. Northland Securities started coverage on Bitcoin Depot in a report on Wednesday, December 20th. They set a market perform rating and a $3.50 target price for the company.

Bitcoin Depot Trading Down 0.8 %

Shares of NASDAQ BTM opened at $1.90 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.16. The stock has a 50 day moving average price of $2.34 and a 200 day moving average price of $2.46. Bitcoin Depot has a 52-week low of $1.88 and a 52-week high of $11.15.

Insiders Place Their Bets

In other news, insider Brandon Taylor Mintz sold 62,865 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $1.99, for a total transaction of $125,101.35. Following the completion of the sale, the insider now owns 759,567 shares in the company, valued at approximately $1,511,538.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Christopher Scott Buchanan sold 14,512 shares of the company’s 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 transaction, the chief operating officer now directly owns 338,741 shares of the company’s stock, valued at approximately $840,077.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brandon Taylor Mintz sold 62,865 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $1.99, for a total value of $125,101.35. Following the completion of the transaction, the insider now directly owns 759,567 shares in the company, valued at $1,511,538.33. The disclosure for this sale can be found here. 20.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bitcoin Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meteora Capital LLC acquired a new stake in shares of Bitcoin Depot during the 3rd quarter valued at about $902,000. Shaolin Capital Management LLC acquired a new stake in shares of Bitcoin Depot during the 3rd quarter valued at about $11,244,000. Exchange Traded Concepts LLC acquired a new stake in shares of Bitcoin Depot during the 3rd quarter valued at about $703,000. Saba Capital Management L.P. acquired a new stake in shares of Bitcoin Depot during the 3rd quarter valued at about $305,000. Finally, Cowen AND Company LLC purchased a new position in Bitcoin Depot in the 3rd quarter valued at about $35,000. 9.18% of the stock is 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.