Brokers Set Expectations for Bitcoin Depot FY2024 Earnings

Bitcoin Depot Inc. (NASDAQ:BTM) – Analysts at B. Riley upped their FY2024 earnings estimates for shares of Bitcoin Depot in a research note issued to investors on Thursday, November 14th. B. Riley analyst H. Goetsch now forecasts that the company will earn $0.11 per share for the year, up from their prior estimate of ($0.01). The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share. B. Riley also issued estimates for Bitcoin Depot’s Q4 2024 earnings at $0.04 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.05 EPS and Q4 2025 earnings at $0.07 EPS.

A number of other analysts also recently issued reports on BTM. Noble Financial upgraded shares of Bitcoin Depot to a “strong-buy” rating in a report on Thursday, October 17th. HC Wainwright lowered their price target 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 Down 17.7 %

Shares of Bitcoin Depot stock opened at $2.00 on Monday. Bitcoin Depot has a 52-week low of $1.33 and a 52-week high of $3.70. 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 business’s 50 day simple moving average is $1.63 and its 200 day simple moving average is $1.71. The firm has a market cap of $120.23 million, a PE ratio of -2.15 and a beta of -0.33.

Bitcoin Depot (NASDAQ:BTM) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $163.07 million for the quarter, compared to analyst estimates of $148.49 million.

Institutional Investors Weigh In On Bitcoin Depot

A number of institutional investors and hedge funds have recently modified their holdings of BTM. Walleye Capital LLC grew its holdings 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 purchasing an additional 12,337 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Bitcoin Depot by 122.1% during the 2nd 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 period. Finally, Shaolin Capital Management LLC increased its holdings in shares of Bitcoin Depot by 7.6% during the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after acquiring an additional 49,600 shares during the last quarter. 9.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of the stock in a transaction on 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 $376,390.56. This trade 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 through this link. Insiders have sold 50,100 shares of company stock valued at $77,051 in the last 90 days. 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.