Bitcoin Depot Stock to Reverse Split on Monday, February 23rd (NASDAQ:BTM)

Bitcoin Depot Inc. (NASDAQ:BTM) shares are set to reverse split on Monday, February 23rd. The 1-7 reverse split was announced on Thursday, February 19th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, February 20th.

Bitcoin Depot Price Performance

Shares of BTM stock traded down $0.00 during mid-day trading on Thursday, hitting $0.95. 1,441,429 shares of the stock traded hands, compared to its average volume of 1,010,821. Bitcoin Depot has a twelve month low of $0.76 and a twelve month high of $6.88. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.88 and a current ratio of 1.88. The company’s 50-day simple moving average is $1.18 and its 200-day simple moving average is $2.43. The firm has a market cap of $69.22 million, a price-to-earnings ratio of 4.13 and a beta of 0.87.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BTM. Wall Street Zen cut shares of Bitcoin Depot from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. B. Riley Financial downgraded Bitcoin Depot from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Bitcoin Depot in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.83.

Institutional Investors Weigh In On Bitcoin Depot

Several hedge funds have recently bought and sold shares of BTM. Heron Bay Capital Management purchased a new position in Bitcoin Depot during the 2nd quarter valued at about $327,000. Caitong International Asset Management Co. Ltd acquired a new position in Bitcoin Depot in the 4th quarter valued at approximately $45,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Bitcoin Depot during the 3rd quarter valued at $36,000. Centiva Capital LP purchased a new position in shares of Bitcoin Depot during the 3rd quarter valued at $269,000. Finally, Sierra Summit Advisors LLC acquired a new position in shares of Bitcoin Depot in the third quarter worth $514,000. 9.18% of the stock is owned by hedge funds and other 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.