Analysts Offer Predictions for Bitcoin Depot FY2024 Earnings

Bitcoin Depot Inc. (NASDAQ:BTM) – Noble Financial increased their FY2024 earnings per share estimates for Bitcoin Depot in a report released on Thursday, November 14th. Noble Financial analyst P. Mccann now anticipates that the company will post earnings per share of $0.03 for the year, up from their prior estimate of $0.02. Noble Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.06) per share.

Separately, HC Wainwright cut their price objective on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Bitcoin Depot Price Performance

Shares of BTM stock opened at $2.00 on Monday. The firm has a fifty day simple moving average of $1.63 and a 200-day simple moving average of $1.71. The company has a market capitalization of $120.23 million, a PE ratio of -2.15 and a beta of -0.33. Bitcoin Depot has a twelve month low of $1.33 and a twelve month high of $3.70. 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 (NASDAQ:BTM) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). Bitcoin Depot had a negative net margin of 2.28% and a negative return on equity of 213.00%. The firm had revenue of $163.07 million during the quarter, compared to analyst estimates of $148.49 million.

Insider Activity

In other news, COO Christopher Scott Buchanan sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 trade represents a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 50,100 shares of company stock worth $77,051. 70.23% of the stock is currently owned by insiders.

Institutional Trading of Bitcoin Depot

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC raised its holdings in shares of 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 grew its position 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 valued at $85,000 after buying an additional 26,000 shares during the last quarter. Finally, Shaolin Capital Management LLC raised its stake in Bitcoin Depot by 7.6% during the first 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 period. 9.18% of the stock is owned by institutional investors.

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.