B. Riley Issues Negative Forecast for Bitcoin Depot Earnings

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities research analysts at B. Riley lowered their Q3 2024 earnings estimates for shares of Bitcoin Depot in a report issued on Monday, November 11th. B. Riley analyst H. Goetsch now anticipates that the company will earn ($0.01) per share for the quarter, down from their previous estimate of $0.01. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.09) per share.

Bitcoin Depot (NASDAQ:BTM) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). The company had revenue of $163.07 million during the quarter, compared to analysts’ expectations of $148.49 million. Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%.

BTM has been the topic of several other reports. Noble Financial upgraded Bitcoin Depot to a “strong-buy” rating in a research note on Thursday, October 17th. HC Wainwright lowered their price objective on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Thursday, August 15th.

Bitcoin Depot Trading Down 6.3 %

Shares of NASDAQ BTM opened at $2.51 on Wednesday. The business has a fifty day moving average price of $1.58 and a 200 day moving average price of $1.71. Bitcoin Depot has a 1-year low of $1.33 and a 1-year high of $3.70. The company has a debt-to-equity ratio of 9.33, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $150.88 million, a P/E ratio of -1.92 and a beta of -0.33.

Institutional Investors Weigh In On Bitcoin Depot

A hedge fund recently raised its stake in Bitcoin Depot stock. Renaissance Technologies LLC grew its position in Bitcoin Depot Inc. (NASDAQ:BTM) by 122.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,300 shares of the company’s stock after acquiring an additional 26,000 shares during the period. Renaissance Technologies LLC owned about 0.08% of Bitcoin Depot worth $85,000 at the end of the most recent quarter. Institutional investors own 9.18% of the company’s stock.

Insider Transactions at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total value of $31,200.00. Following the completion of the sale, the chief operating officer now owns 241,276 shares in the company, valued at approximately $376,390.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 50,100 shares of company stock valued at $77,051 over the last ninety days. 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. Its customers can buy and sell bitcoin, litecoin, and ethereum cryptocurrencies using the BTM kiosk network and other services. The company also engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering, as well as its website through over-the-counter trade.