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

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) are 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 closing bell on Friday, February 20th.

Bitcoin Depot Stock Performance

Shares of NASDAQ BTM traded down $0.00 during trading hours on Thursday, reaching $0.95. 1,441,429 shares of the stock were exchanged, compared to its average volume of 1,010,821. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $69.22 million, a price-to-earnings ratio of 4.13 and a beta of 0.87. The stock’s fifty day simple moving average is $1.18 and its 200 day simple moving average is $2.43. Bitcoin Depot has a 52 week low of $0.76 and a 52 week high of $6.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BTM shares. B. Riley Financial lowered Bitcoin Depot from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bitcoin Depot in a report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.83.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in shares of 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 valued at $49,000 after acquiring an additional 9,622 shares during the period. Cetera Investment Advisers bought a new stake in shares of Bitcoin Depot during the second quarter valued at about $51,000. Kestra Private Wealth Services LLC bought a new stake in Bitcoin Depot during the 3rd quarter worth approximately $36,000. Qube Research & Technologies Ltd purchased a new stake in shares of Bitcoin Depot in the second quarter worth $74,000. Finally, Man Group plc purchased a new position in shares of Bitcoin Depot during the second quarter worth about $84,000. Hedge funds and other institutional investors 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.