Q1 2024 EPS Estimates for Bitcoin Depot Inc. (NASDAQ:BTM) Reduced by Analyst

Bitcoin Depot Inc. (NASDAQ:BTM) – Investment analysts at B. Riley cut their Q1 2024 earnings estimates for shares of Bitcoin Depot in a research report issued on Tuesday, March 26th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings per share of ($0.04) for the quarter, down from their previous forecast of $0.06. B. Riley has a “Buy” rating and a $4.00 price target on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.69) per share. B. Riley also issued estimates for Bitcoin Depot’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.04 EPS and FY2024 earnings at $0.08 EPS.

Several other research analysts also recently commented on BTM. HC Wainwright dropped their target price on shares of Bitcoin Depot from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday. Northland Securities assumed coverage on shares of Bitcoin Depot in a report on Wednesday, December 20th. They issued a “market perform” rating and a $3.50 target price on the stock.

Bitcoin Depot Trading Down 12.4 %

Shares of BTM opened at $1.91 on Thursday. Bitcoin Depot has a one year low of $1.88 and a one year high of $11.15. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.16. The company’s fifty day moving average price is $2.35 and its 200 day moving average price is $2.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Shaolin Capital Management LLC bought a new position in shares of Bitcoin Depot during the 3rd quarter worth about $11,244,000. AWM Investment Company Inc. bought a new stake in Bitcoin Depot in the third quarter valued at about $2,464,000. Cohanzick Management LLC increased its stake in Bitcoin Depot by 54.4% in the fourth quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock valued at $1,944,000 after acquiring an additional 212,000 shares during the period. Radcliffe Capital Management L.P. bought a new stake in Bitcoin Depot in the third quarter valued at about $1,075,000. Finally, Meteora Capital LLC bought a new stake in Bitcoin Depot in the third quarter valued at about $902,000. Institutional investors own 9.18% of the company’s stock.

Insider Transactions at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 14,512 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2.48, for a total transaction of $35,989.76. Following the transaction, the chief operating officer now owns 338,741 shares in the company, valued at approximately $840,077.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 20.09% of the company’s stock.

About Bitcoin Depot

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade.