Bitcoin Depot (NASDAQ:BTM) Shares Scheduled to Reverse Split on Monday, February 23rd

Bitcoin Depot Inc. (NASDAQ:BTM) shares are scheduled to reverse split on the morning of Monday, February 23rd. The 1-7 reverse split was announced on Thursday, February 19th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, February 20th.

Bitcoin Depot Trading Down 0.3%

NASDAQ:BTM traded down $0.00 on Thursday, hitting $0.95. 1,441,429 shares of the stock were exchanged, compared to its average volume of 1,010,821. The stock has a fifty day moving average of $1.18 and a 200-day moving average of $2.43. The stock has a market cap of $69.22 million, a PE ratio of 4.13 and a beta of 0.87. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.86. Bitcoin Depot has a fifty-two week low of $0.76 and a fifty-two week high of $6.88.

Analyst Upgrades and Downgrades

BTM has been the topic of several research reports. Wall Street Zen lowered Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. B. Riley Financial lowered Bitcoin Depot from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Bitcoin Depot in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.83.

Institutional Trading of Bitcoin Depot

A number of hedge funds have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC acquired a new stake in Bitcoin Depot in the third quarter valued at $36,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Bitcoin Depot in the 4th quarter worth about $45,000. Bank of America Corp DE increased its position in shares of Bitcoin Depot by 11,320.0% in the 2nd quarter. Bank of America Corp DE now owns 9,707 shares of the company’s stock worth $49,000 after purchasing an additional 9,622 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Bitcoin Depot in the 2nd quarter valued at about $51,000. Finally, Engineers Gate Manager LP lifted its position in shares of Bitcoin Depot by 229.5% during the fourth quarter. Engineers Gate Manager LP now owns 47,543 shares of the company’s stock worth $61,000 after purchasing an additional 33,112 shares during the last quarter. Institutional investors and hedge funds own 9.18% of the company’s stock.

Bitcoin Depot Company Profile

Bitcoin Depot, Inc operates one of the largest networks of self-service cryptocurrency kiosks in North America, enabling customers to buy and sell Bitcoin and other digital assets using cash or debit cards. Through a partnership model with convenience stores, gas stations and retail outlets, the company provides an accessible on-ramp and off-ramp for individuals entering the cryptocurrency market without requiring a bank account or extensive technical knowledge. Transactions are completed in real time at the point of sale, with verification and receipt provided via email or mobile phone.

Founded in 2016 and headquartered in Atlanta, Georgia, Bitcoin Depot began as a privately held startup focused on expanding retail access to digital currencies.