Bitcoin Depot (BTM) Projected to Announce Quarterly Earnings on Tuesday

Bitcoin Depot (NASDAQ:BTM) is projected to release its results before the market opens on Tuesday, August 18th. Analysts expect Bitcoin Depot to post earnings of ($0.2150) per share and revenue of $113.4380 million for the quarter.

Bitcoin Depot Price Performance

BTM stock opened at $0.49 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 4.72. The stock’s 50 day moving average is $0.49 and its two-hundred day moving average is $3.09. The company has a market capitalization of $5.47 million, a PE ratio of 0.26 and a beta of 3.12. Bitcoin Depot has a 52-week low of $0.45 and a 52-week high of $48.16.

Institutional Trading of Bitcoin Depot

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in Bitcoin Depot by 11,320.0% during the 2nd quarter. Bank of America Corp DE now owns 9,707 shares of the company’s stock worth $49,000 after acquiring an additional 9,622 shares during the period. Cetera Investment Advisers acquired a new position in shares of Bitcoin Depot during the 2nd quarter worth $51,000. Kestra Private Wealth Services LLC bought a new position in Bitcoin Depot during the third quarter valued at about $36,000. Qube Research & Technologies Ltd acquired a new stake in Bitcoin Depot in the 2nd quarter worth approximately $74,000. Finally, Man Group plc acquired a new stake in shares of Bitcoin Depot in the second quarter worth $84,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BTM. Wall Street Zen downgraded shares of Bitcoin Depot from a “sell” rating to a “strong sell” rating in a research report on Sunday, April 19th. Noble Financial downgraded shares of Bitcoin Depot from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 13th. Finally, HC Wainwright lowered Bitcoin Depot from a “buy” rating to a “neutral” rating in a report on Tuesday, May 19th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $4.10.

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.