Brokerages Set Bitcoin Depot Inc. (NASDAQ:BTM) PT at $14.40

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $14.40.

BTM has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Bitcoin Depot from a “sell” rating to a “strong sell” rating in a report on Sunday, April 19th. B. Riley Financial upped their target price on Bitcoin Depot to $4.20 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Noble Financial reiterated an “outperform” rating on shares of Bitcoin Depot in a report on Tuesday, March 17th. HC Wainwright increased their price target on Bitcoin Depot from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Wednesday, January 21st.

Hedge Funds Weigh In On Bitcoin Depot

Several institutional investors have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC acquired a new stake in shares of Bitcoin Depot in the 3rd quarter valued at about $36,000. Caitong International Asset Management Co. Ltd acquired a new stake in Bitcoin Depot in the fourth quarter valued at approximately $45,000. Bank of America Corp DE increased its holdings in shares of Bitcoin Depot by 11,320.0% during the second 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 in the last quarter. Cetera Investment Advisers acquired a new position in shares of Bitcoin Depot during the second quarter worth approximately $51,000. Finally, Engineers Gate Manager LP raised its position in shares of Bitcoin Depot by 229.5% during the fourth quarter. Engineers Gate Manager LP now owns 47,543 shares of the company’s stock worth $61,000 after purchasing an additional 33,112 shares during the period. Institutional investors and hedge funds own 9.18% of the company’s stock.

Bitcoin Depot Price Performance

Bitcoin Depot stock opened at $4.90 on Thursday. The stock’s 50 day moving average is $4.34 and its 200 day moving average is $8.36. Bitcoin Depot has a one year low of $1.90 and a one year high of $48.16. The firm has a market cap of $54.54 million, a P/E ratio of 2.58 and a beta of 3.12. The company has a debt-to-equity ratio of 4.72, a current ratio of 1.26 and a quick ratio of 1.26.

Bitcoin Depot (NASDAQ:BTM) last released its quarterly earnings results on Monday, March 16th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.71). Bitcoin Depot had a negative return on equity of 70.95% and a negative net margin of 0.94%.The firm had revenue of $116.04 million for the quarter, compared to the consensus estimate of $113.93 million. As a group, research analysts expect that Bitcoin Depot will post -2.12 EPS for the current year.

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.