Insider Selling: Bitcoin Depot Inc. (NASDAQ:BTM) COO Sells 20,476 Shares of Stock

Bitcoin Depot Inc. (NASDAQ:BTM) COO Christopher Scott Buchanan sold 20,476 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $1.33, for a total value of $27,233.08. Following the completion of the sale, the chief operating officer now directly owns 169,276 shares of the company’s stock, valued at approximately $225,137.08. The trade was a 10.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Christopher Scott Buchanan also recently made the following trade(s):

• On Tuesday, April 1st, Christopher Scott Buchanan sold 29,524 shares of Bitcoin Depot stock. The shares were sold at an average price of $1.44, for a total transaction of $42,514.56.
• On Monday, February 3rd, Christopher Scott Buchanan sold 5,000 shares of Bitcoin Depot stock. The stock was sold at an average price of $1.52, for a total transaction of $7,600.00.

Bitcoin Depot Stock Performance

BTM stock traded down $0.13 during mid-day trading on Monday, hitting $1.14. 449,175 shares of the company were exchanged, compared to its average volume of 425,863. Bitcoin Depot Inc. has a 1-year low of $0.93 and a 1-year high of $3.52. The stock has a market capitalization of $72.89 million, a PE ratio of -1.23 and a beta of -0.26. The business has a 50 day simple moving average of $1.38 and a 200-day simple moving average of $1.59. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 9.33.

Bitcoin Depot (NASDAQ:BTM) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.25). The firm had revenue of $136.83 million during the quarter, compared to the consensus estimate of $131.50 million. Bitcoin Depot had a negative net margin of 2.28% and a negative return on equity of 488.33%.

Institutional Trading of Bitcoin Depot

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Owl Capital Holdings LP increased its holdings in shares of Bitcoin Depot by 480.0% during the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after purchasing an additional 15,000 shares during the period. Walleye Capital LLC increased its stake in Bitcoin Depot by 110.1% during the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after acquiring an additional 12,337 shares during the period. Renaissance Technologies LLC raised its holdings in Bitcoin Depot by 96.4% in the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock valued at $237,000 after acquiring an additional 71,700 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Bitcoin Depot during the 4th quarter valued at $267,000. Finally, 272 Capital LP acquired a new stake in shares of Bitcoin Depot during the 3rd quarter worth $401,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of Bitcoin Depot in a research report on Tuesday, March 18th. B. Riley reaffirmed a “buy” rating and set a $4.70 price target (up previously from $4.50) on shares of Bitcoin Depot in a report on Wednesday, March 19th.

Bitcoin Depot Company Profile

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.