Bitcoin Depot Q3 EPS Forecast Boosted by Northland Capmk

Bitcoin Depot Inc. (NASDAQ:BTM) – Research analysts at Northland Capmk increased their Q3 2024 earnings per share estimates for Bitcoin Depot in a report issued on Thursday, November 14th. Northland Capmk analyst M. Grondahl now anticipates that the company will post earnings per share of $0.13 for the quarter, up from their previous forecast of $0.02. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share. Northland Capmk also issued estimates for Bitcoin Depot’s Q4 2024 earnings at ($0.06) EPS and FY2024 earnings at ($0.16) EPS.

Several other brokerages have also recently commented on BTM. 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 report on Thursday, August 15th. Noble Financial upgraded Bitcoin Depot to a “strong-buy” rating in a research report on Thursday, October 17th.

Bitcoin Depot Price Performance

NASDAQ BTM opened at $2.00 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 9.33. Bitcoin Depot has a 1 year low of $1.33 and a 1 year high of $3.70. The company has a market cap of $120.23 million, a PE ratio of -2.15 and a beta of -0.33. The stock’s 50-day moving average price is $1.63 and its two-hundred day moving average price is $1.71.

Bitcoin Depot (NASDAQ:BTM) last announced its earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). Bitcoin Depot had a negative return on equity of 213.00% and a negative net margin of 2.28%. The company had revenue of $163.07 million for the quarter, compared to analyst estimates of $148.49 million.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BTM. Shaolin Capital Management LLC increased its position in Bitcoin Depot by 7.6% in the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after buying an additional 49,600 shares during the period. Renaissance Technologies LLC grew its stake in shares of 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 acquiring an additional 26,000 shares during the last quarter. Finally, Walleye Capital LLC increased its position in Bitcoin Depot by 110.1% during the third 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. Institutional investors own 9.18% of the company’s stock.

Insider Transactions at Bitcoin Depot

In other news, COO Christopher Scott Buchanan sold 20,000 shares of the 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 transaction, the chief operating officer now owns 241,276 shares of the company’s stock, valued at approximately $376,390.56. This represents a 7.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 50,100 shares of company stock worth $77,051 in the last 90 days. 70.23% of the stock is owned by insiders.

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.