Brokers Offer Predictions for Bitcoin Depot Inc.’s Q2 2024 Earnings (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) – Stock analysts at Noble Financial reduced their Q2 2024 earnings estimates for Bitcoin Depot in a research report issued on Monday, April 22nd. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings per share of $0.07 for the quarter, down from their previous forecast of $0.11. The consensus estimate for Bitcoin Depot’s current full-year earnings is $0.23 per share. Noble Financial also issued estimates for Bitcoin Depot’s Q3 2024 earnings at $0.12 EPS and FY2024 earnings at $0.32 EPS.

Several other brokerages have also commented on BTM. B. Riley lowered their price objective on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. HC Wainwright lowered their price objective on shares of Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, March 26th.

Bitcoin Depot Price Performance

Shares of BTM opened at $1.80 on Wednesday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.81 and a current ratio of 0.81. Bitcoin Depot has a one year low of $1.36 and a one year high of $10.93. The company has a 50-day simple moving average of $2.16 and a two-hundred day simple moving average of $2.35.

Insider Activity

In other news, COO Christopher Scott Buchanan sold 14,512 shares of Bitcoin Depot stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total transaction of $35,989.76. Following the completion of the transaction, the chief operating officer now directly owns 338,741 shares in the company, valued at $840,077.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Brandon Taylor Mintz sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $1.73, for a total transaction of $86,500.00. Following the completion of the sale, the insider now owns 696,702 shares of the company’s stock, valued at $1,205,294.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Christopher Scott Buchanan sold 14,512 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 approximately $840,077.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,377 shares of company stock worth $247,591. Insiders own 20.09% of the company’s stock.

Institutional Investors Weigh In On Bitcoin Depot

Institutional investors and hedge funds have recently made changes to their positions in the company. Meteora Capital LLC bought a new stake in shares of Bitcoin Depot during the third quarter valued at approximately $902,000. Shaolin Capital Management LLC bought a new stake in Bitcoin Depot in the 3rd quarter worth approximately $11,244,000. Exchange Traded Concepts LLC bought a new stake in Bitcoin Depot in the 3rd quarter worth approximately $703,000. Saba Capital Management L.P. bought a new stake in Bitcoin Depot in the 3rd quarter worth approximately $305,000. Finally, Cowen AND Company LLC bought a new stake in Bitcoin Depot in the 3rd quarter worth approximately $35,000. Institutional investors own 9.18% of the company’s stock.

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.