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

Bitcoin Depot Inc. (NASDAQ:BTM)’s stock is scheduled to reverse split before the market opens on 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 market closes on Friday, February 20th.

Bitcoin Depot Stock Performance

Shares of BTM stock traded down $0.00 during trading on Thursday, reaching $0.95. The company had a trading volume of 1,441,429 shares, compared to its average volume of 1,010,821. The firm’s 50 day simple moving average is $1.18 and its two-hundred day simple moving average is $2.43. Bitcoin Depot has a one year low of $0.76 and a one year high of $6.88. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $69.22 million, a PE ratio of 4.13 and a beta of 0.87.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BTM shares. Weiss Ratings restated a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Wednesday, January 21st. B. Riley Financial downgraded shares of Bitcoin Depot from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Finally, Wall Street Zen cut shares of Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.83.

Institutional Trading of Bitcoin Depot

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

About Bitcoin Depot

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.