FY2024 EPS Estimates for Bitcoin Depot Reduced by B. Riley

Bitcoin Depot Inc. (NASDAQ:BTM) – Analysts at B. Riley reduced their FY2024 earnings estimates for shares of Bitcoin Depot in a research note issued to investors on Monday, November 11th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings per share of ($0.01) for the year, down from their previous estimate of $0.02. 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 analysts’ consensus estimates of $0.03 by ($0.16). Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%. The company had revenue of $163.07 million during the quarter, compared to the consensus estimate of $148.49 million.

A number of other equities research analysts also recently issued reports on the stock. Noble Financial raised shares of Bitcoin Depot to a “strong-buy” rating in a report on Thursday, October 17th. HC Wainwright lowered their target price on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, August 15th.

Bitcoin Depot Stock Performance

Shares of BTM opened at $2.43 on Thursday. Bitcoin Depot has a 52-week low of $1.33 and a 52-week high of $3.70. The stock’s 50-day simple moving average is $1.62 and its 200 day simple moving average is $1.72. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $146.07 million, a price-to-earnings ratio of -1.85 and a beta of -0.33.

Institutional Trading of Bitcoin Depot

A number of hedge funds have recently bought and sold shares of BTM. Shaolin Capital Management LLC lifted its stake in shares of Bitcoin Depot by 7.6% in the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after acquiring an additional 49,600 shares during the last quarter. Renaissance Technologies LLC increased its stake in Bitcoin Depot by 122.1% in the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after purchasing an additional 26,000 shares during the period. Finally, Walleye Capital LLC lifted its position in Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after purchasing an additional 12,337 shares during the last quarter. Institutional investors own 9.18% of the company’s stock.

Insider Activity

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total transaction of $31,200.00. Following the sale, the chief operating officer now owns 241,276 shares in the company, valued at $376,390.56. This trade represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 50,100 shares of company stock worth $77,051. 70.23% of the stock is currently owned by insiders.

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.