Bitcoin Depot Inc. (NASDAQ:BTM) Receives $4.10 Consensus Target Price from Brokerages

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) have received an average rating of “Reduce” from the five ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.10.

Several equities research analysts have recently commented on the stock. HC Wainwright lowered shares of Bitcoin Depot from a “buy” rating to a “neutral” rating in a report on Tuesday, May 19th. Wall Street Zen downgraded shares of Bitcoin Depot from a “sell” rating to a “strong sell” rating in a research note on Sunday, April 19th. Finally, Noble Financial lowered shares of Bitcoin Depot from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 13th.

Bitcoin Depot Price Performance

NASDAQ:BTM opened at $0.49 on Tuesday. 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 has a 1-year low of $0.45 and a 1-year high of $48.16. The company has a 50-day moving average of $0.50 and a 200 day moving average of $3.72. The firm has a market cap of $5.47 million, a PE ratio of 0.26 and a beta of 3.12.

Institutional Trading of Bitcoin Depot

Several hedge funds and other institutional investors have recently bought and sold shares of BTM. Bank of America Corp DE raised its position in shares of Bitcoin Depot by 11,320.0% in the 2nd quarter. Bank of America Corp DE now owns 9,707 shares of the company’s stock worth $49,000 after acquiring an additional 9,622 shares in the last quarter. Cetera Investment Advisers bought a new stake in 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 third quarter valued at about $36,000. Qube Research & Technologies Ltd purchased a new position in Bitcoin Depot in the second quarter valued at about $74,000. Finally, Man Group plc purchased a new position in Bitcoin Depot in the second quarter valued at about $84,000. 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.