Noble Financial Expects Weaker Earnings for Bitcoin Depot

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities researchers at Noble Financial reduced their Q4 2024 earnings estimates for shares of Bitcoin Depot in a research report issued on Thursday, November 14th. Noble Financial analyst P. Mccann now forecasts that the company will post earnings of ($0.01) per share for the quarter, down from their previous estimate of $0.01. Noble Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.10) per share. Noble Financial also issued estimates for Bitcoin Depot’s FY2025 earnings at $0.31 EPS.

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

Separately, HC Wainwright decreased their target price on 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 Price Performance

Shares of Bitcoin Depot stock opened at $2.00 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 9.33. The firm has a fifty day simple moving average of $1.63 and a 200-day simple moving average of $1.72. The stock has a market capitalization of $120.22 million, a price-to-earnings ratio of -1.53 and a beta of -0.33. Bitcoin Depot has a 1-year low of $1.33 and a 1-year high of $3.70.

Insider Activity at Bitcoin Depot

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

Institutional Investors Weigh In On Bitcoin Depot

A number of hedge funds have recently made changes to their positions in the company. Shaolin Capital Management LLC increased 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 raised its holdings in Bitcoin Depot by 122.1% in the second 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 grew its holdings in shares of Bitcoin Depot by 110.1% in the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after buying an additional 12,337 shares during the period. Institutional investors and hedge funds own 9.18% 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.