Bitcoin Depot (NASDAQ:BTM) Price Target Raised to $4.00

Bitcoin Depot (NASDAQ:BTM) had its price target hoisted by investment analysts at HC Wainwright from $3.50 to $4.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 42.86% from the company’s previous close.

A number of other equities research analysts have also commented on the company. B. Riley Financial increased their price target on Bitcoin Depot to $4.20 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bitcoin Depot in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Bitcoin Depot from a “buy” rating to a “strong sell” rating in a research note on Saturday. Finally, Noble Financial reissued an “outperform” rating on shares of Bitcoin Depot in a research report on Tuesday, March 17th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.40.

Bitcoin Depot Price Performance

BTM stock opened at $2.80 on Wednesday. The company has a debt-to-equity ratio of 4.72, a quick ratio of 1.26 and a current ratio of 1.26. The business has a 50-day simple moving average of $6.03 and a two-hundred day simple moving average of $12.88. The company has a market capitalization of $29.15 million, a P/E ratio of 1.47 and a beta of 0.96. Bitcoin Depot has a 52-week low of $2.77 and a 52-week high of $48.16.

Bitcoin Depot (NASDAQ:BTM) last issued 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). Bitcoin Depot had a negative return on equity of 70.95% and a negative net margin of 0.94%.The company had revenue of $116.04 million during the quarter, compared to analysts’ expectations of $113.93 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aristides Capital LLC purchased a new position in shares of Bitcoin Depot in the 4th quarter worth about $137,000. Sabby Management LLC purchased a new stake in Bitcoin Depot during the fourth quarter worth about $1,292,000. Caitong International Asset Management Co. Ltd purchased a new stake in Bitcoin Depot during the fourth quarter worth about $45,000. Kestra Private Wealth Services LLC bought a new stake in Bitcoin Depot in the third quarter worth about $36,000. Finally, Centiva Capital LP purchased a new position in Bitcoin Depot in the third quarter valued at about $269,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

About Bitcoin Depot

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.