HC Wainwright Lowers Bitcoin Depot (NASDAQ:BTM) Price Target to $4.00

Bitcoin Depot (NASDAQ:BTM) had its price target cut by HC Wainwright from $5.00 to $4.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Bitcoin Depot’s Q1 2024 earnings at ($0.09) EPS, Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.02 EPS, FY2024 earnings at ($0.11) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at $0.20 EPS.

Separately, Northland Securities began coverage on Bitcoin Depot in a research note on Wednesday, December 20th. They issued a market perform rating and a $3.50 price objective on the stock.

Bitcoin Depot Stock Performance

BTM opened at $1.90 on Tuesday. Bitcoin Depot has a one year low of $1.88 and a one year high of $11.15. The company has a debt-to-equity ratio of 3.16, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s fifty day moving average is $2.34 and its 200-day moving average is $2.46.

Insider Transactions at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total transaction of $35,989.76. Following the sale, the chief operating officer now directly owns 338,741 shares of the company’s stock, valued at $840,077.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.48, for a total transaction of $35,989.76. Following the sale, the chief operating officer now directly owns 338,741 shares of the company’s stock, valued at $840,077.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandon Taylor Mintz sold 62,865 shares of Bitcoin Depot 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 transaction, the insider now owns 759,567 shares in the company, valued at approximately $1,511,538.33. The disclosure for this sale can be found here. 20.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC purchased a new position in Bitcoin Depot in the third quarter valued at about $703,000. Cowen AND Company LLC bought a new stake in Bitcoin Depot during the 3rd quarter valued at approximately $35,000. Meteora Capital LLC bought a new stake in Bitcoin Depot during the 3rd quarter valued at approximately $902,000. Saba Capital Management L.P. bought a new stake in Bitcoin Depot during the 3rd quarter valued at approximately $305,000. Finally, AWM Investment Company Inc. bought a new stake in Bitcoin Depot during the 3rd quarter valued at approximately $2,464,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

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.