Bitcoin Depot (NASDAQ:BTM) Shares Up 1.7% – What’s Next?

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) were up 1.7% on Friday . The stock traded as high as $1.25 and last traded at $1.20. Approximately 905,597 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 793,951 shares. The stock had previously closed at $1.18.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BTM shares. Wall Street Zen lowered shares of Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Wednesday. Finally, B. Riley cut Bitcoin Depot from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.83.

Bitcoin Depot Trading Up 1.7%

The stock’s fifty day moving average price is $1.39 and its 200 day moving average price is $2.99. The stock has a market cap of $87.43 million, a P/E ratio of 5.22 and a beta of 0.87. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.86.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Bitcoin Depot had a net margin of 1.44% and a return on equity of 791.02%. The company had revenue of $162.48 million during the quarter, compared to analysts’ expectations of $153.11 million.

Institutional Trading of Bitcoin Depot

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Private Wealth Services LLC bought a new position in shares of Bitcoin Depot in the third quarter worth approximately $36,000. Welch Capital Partners LLC NY raised its stake in shares of Bitcoin Depot by 14.3% in the third quarter. Welch Capital Partners LLC NY now owns 1,469,313 shares of the company’s stock worth $4,937,000 after purchasing an additional 184,123 shares during the last quarter. Centiva Capital LP bought a new position in shares of Bitcoin Depot during the third quarter valued at $269,000. Man Group plc increased its holdings in Bitcoin Depot by 1,803.0% in the 3rd quarter. Man Group plc now owns 315,581 shares of the company’s stock worth $1,060,000 after buying an additional 298,998 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Bitcoin Depot by 19.2% in the 3rd quarter. Two Sigma Investments LP now owns 604,387 shares of the company’s stock worth $2,031,000 after buying an additional 97,506 shares during the last quarter. 9.18% of the stock is currently owned by institutional investors.

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.