Bitcoin Depot (NASDAQ:BTM) Receives “Market Perform” Rating from Noble Financial

Bitcoin Depot (NASDAQ:BTM)‘s stock had its “market perform” rating reaffirmed by equities researchers at Noble Financial in a report released on Wednesday, Marketbeat Ratings reports.

Several other equities research analysts have also issued reports on BTM. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bitcoin Depot in a research report on Wednesday, January 21st. Wall Street Zen cut Bitcoin Depot from a “sell” rating to a “strong sell” rating in a research note on Sunday, April 19th. B. Riley Financial lifted their price target on Bitcoin Depot to $4.20 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Finally, HC Wainwright raised their price objective on Bitcoin Depot from $3.50 to $4.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.40.

Bitcoin Depot Stock Performance

Shares of NASDAQ:BTM traded down $1.36 during mid-day trading on Wednesday, reaching $3.29. The company had a trading volume of 102,154 shares, compared to its average volume of 302,431. Bitcoin Depot has a one year low of $1.90 and a one year high of $48.16. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 4.72. The company’s 50-day moving average price is $4.34 and its 200-day moving average price is $8.26. The firm has a market cap of $36.62 million, a price-to-earnings ratio of 1.74 and a beta of 3.12.

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

Hedge Funds Weigh In On Bitcoin Depot

Hedge funds have recently modified their holdings of the company. Owl Creek Asset Management L.P. bought a new stake in shares of Bitcoin Depot in the fourth quarter worth about $1,935,000. Sabby Management LLC purchased a new position in Bitcoin Depot during the 4th quarter valued at about $1,292,000. Marshall Wace LLP bought a new stake in shares of Bitcoin Depot in the 2nd quarter worth approximately $4,097,000. Vanguard Group Inc. grew its stake in shares of Bitcoin Depot by 54.9% in the 3rd quarter. Vanguard Group Inc. now owns 951,318 shares of the company’s stock worth $3,196,000 after buying an additional 337,070 shares during the last quarter. Finally, Welch Capital Partners LLC NY increased its position in Bitcoin Depot by 33.0% during the 2nd quarter. Welch Capital Partners LLC NY now owns 1,285,190 shares of the company’s stock valued at $6,516,000 after buying an additional 318,940 shares in the last quarter. 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.