Bitcoin Depot’s (BTM) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Bitcoin Depot (NASDAQ:BTM) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $4.00 price objective on the stock.

Bitcoin Depot Trading Up 1.4 %

NASDAQ BTM opened at $1.41 on Tuesday. The company has a market cap of $85.15 million, a price-to-earnings ratio of -1.52 and a beta of 0.10. Bitcoin Depot has a 52 week low of $0.93 and a 52 week high of $3.52. The business has a 50 day moving average price of $1.44 and a 200-day moving average price of $1.61. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 9.33.

Institutional Investors Weigh In On Bitcoin Depot

Several institutional investors have recently bought and sold shares of the stock. Welch Capital Partners LLC NY boosted its position in Bitcoin Depot by 480.1% in the fourth quarter. Welch Capital Partners LLC NY now owns 522,073 shares of the company’s stock worth $846,000 after purchasing an additional 432,073 shares during the last quarter. Two Sigma Investments LP purchased a new position in Bitcoin Depot in the fourth quarter worth $427,000. 272 Capital LP purchased a new position in Bitcoin Depot in the third quarter worth $401,000. Two Sigma Advisers LP purchased a new position in Bitcoin Depot in the fourth quarter worth $267,000. Finally, Radcliffe Capital Management L.P. boosted its position in Bitcoin Depot by 134.3% in the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock worth $463,000 after purchasing an additional 163,854 shares during the last quarter. Institutional investors 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.