Bitcoin Depot Inc. Forecasted to Earn Q2 2024 Earnings of $0.24 Per Share (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at Northland Capmk upped their Q2 2024 EPS estimates for shares of Bitcoin Depot in a research note issued on Monday, March 25th. Northland Capmk analyst M. Grondahl now forecasts that the company will post earnings of $0.24 per share for the quarter, up from their previous forecast of $0.20. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.69) per share. Northland Capmk also issued estimates for Bitcoin Depot’s Q3 2024 earnings at $0.27 EPS.

Other equities research analysts have also recently issued research reports about the company. B. Riley decreased their target price on Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday. Northland Securities assumed coverage on shares of Bitcoin Depot in a research report on Wednesday, December 20th. They set a “market perform” rating and a $3.50 price objective for the company. Finally, HC Wainwright dropped their target price on shares of Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday.

Bitcoin Depot Stock Down 0.8 %

Shares of NASDAQ BTM opened at $1.90 on Wednesday. Bitcoin Depot has a 1 year low of $1.88 and a 1 year 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 two-hundred day moving average of $2.47.

Insider Buying and Selling

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 338,741 shares in the company, valued at $840,077.68. The sale was disclosed in a document filed with the SEC, which is available through this link. 20.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Meteora Capital LLC acquired a new stake in shares of Bitcoin Depot during the third quarter worth about $902,000. Shaolin Capital Management LLC purchased a new stake in Bitcoin Depot during the 3rd quarter valued at approximately $11,244,000. Exchange Traded Concepts LLC acquired a new stake in Bitcoin Depot during the 3rd quarter worth approximately $703,000. Saba Capital Management L.P. purchased a new position in shares of Bitcoin Depot in the 3rd quarter valued at approximately $305,000. Finally, Cowen AND Company LLC purchased a new stake in shares of Bitcoin Depot during the third quarter worth approximately $35,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

Bitcoin Depot Company Profile

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.