Bitcoin Depot Inc. (NASDAQ:BTM) Receives $14.40 Average Price Target from Analysts
by Amy Steele · The Cerbat GemBitcoin Depot Inc. (NASDAQ:BTM – Get Free Report) has earned an average recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.40.
Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bitcoin Depot in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Bitcoin Depot from a “strong sell” rating to a “sell” rating in a research report on Saturday. HC Wainwright lifted their target price on shares of Bitcoin Depot from $3.50 to $4.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Noble Financial restated an “outperform” rating on shares of Bitcoin Depot in a research report on Tuesday, March 17th. Finally, B. Riley Financial boosted their price target on shares of Bitcoin Depot to $4.20 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th.
Get Our Latest Research Report on BTM
Bitcoin Depot Stock Down 6.3%
NASDAQ:BTM opened at $3.69 on Friday. The firm’s 50 day simple moving average is $4.33 and its 200 day simple moving average is $10.38. The company has a debt-to-equity ratio of 4.72, a current ratio of 1.26 and a quick ratio of 1.26. Bitcoin Depot has a one year low of $1.90 and a one year high of $48.16. The company has a market cap of $41.07 million, a PE ratio of 1.94 and a beta of 1.26.
Bitcoin Depot (NASDAQ:BTM – Get Free Report) last posted its earnings results on Monday, March 16th. The company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.71). Bitcoin Depot had a negative return on equity of 70.95% and a negative net margin of 0.94%.The business had revenue of $116.04 million for the quarter, compared to analyst estimates of $113.93 million.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in shares of Bitcoin Depot by 11,320.0% in the 2nd quarter. Bank of America Corp DE now owns 9,707 shares of the company’s stock worth $49,000 after purchasing an additional 9,622 shares during the period. Cetera Investment Advisers acquired a new position in shares of Bitcoin Depot in the 2nd quarter worth approximately $51,000. Kestra Private Wealth Services LLC acquired a new position in shares of Bitcoin Depot in the 3rd quarter worth approximately $36,000. Qube Research & Technologies Ltd acquired a new position in shares of Bitcoin Depot in the 2nd quarter worth approximately $74,000. Finally, Man Group plc acquired a new position in shares of Bitcoin Depot in the 2nd quarter worth approximately $84,000. Institutional investors and hedge funds own 9.18% of the company’s stock.
Bitcoin Depot Company Profile
Bitcoin Depot, Inc operates one of the largest networks of self-service cryptocurrency kiosks in North America, enabling customers to buy and sell Bitcoin and other digital assets using cash or debit cards. Through a partnership model with convenience stores, gas stations and retail outlets, the company provides an accessible on-ramp and off-ramp for individuals entering the cryptocurrency market without requiring a bank account or extensive technical knowledge. Transactions are completed in real time at the point of sale, with verification and receipt provided via email or mobile phone.
Founded in 2016 and headquartered in Atlanta, Georgia, Bitcoin Depot began as a privately held startup focused on expanding retail access to digital currencies.