Bitcoin Depot (NASDAQ:BTM) Downgraded by Wall Street Zen to Strong Sell
by Michael Walen · The Markets DailyWall Street Zen downgraded shares of Bitcoin Depot (NASDAQ:BTM – Free Report) from a sell rating to a strong sell rating in a report released on Sunday.
Other equities analysts also recently issued research reports about the company. HC Wainwright increased their price target on Bitcoin Depot from $3.50 to $4.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. B. Riley Financial increased their price objective on Bitcoin Depot to $4.20 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Noble Financial reissued an “outperform” rating on shares of Bitcoin Depot in a research report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Bitcoin Depot in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Bitcoin Depot has a consensus rating of “Hold” and an average price target of $14.40.
Get Our Latest Research Report on Bitcoin Depot
Bitcoin Depot Stock Performance
NASDAQ:BTM opened at $5.30 on Friday. The stock’s 50 day moving average price is $4.27 and its 200 day moving average price is $9.95. Bitcoin Depot has a 52 week low of $1.90 and a 52 week high of $48.16. The company has a market capitalization of $58.98 million, a P/E ratio of 2.79 and a beta of 1.26. The company has a debt-to-equity ratio of 4.72, a quick ratio of 1.26 and a current ratio of 1.26.
Bitcoin Depot (NASDAQ:BTM – Get Free Report) last announced its quarterly 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 net margin of 0.94% and a negative return on equity of 70.95%. The company had revenue of $116.04 million for the quarter, compared to analyst estimates of $113.93 million.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Bitcoin Depot by 11,320.0% during the second quarter. Bank of America Corp DE now owns 9,707 shares of the company’s stock worth $49,000 after acquiring an additional 9,622 shares in the last quarter. Cetera Investment Advisers acquired a new position in Bitcoin Depot during the second quarter worth $51,000. Kestra Private Wealth Services LLC acquired a new position in Bitcoin Depot during the third quarter worth $36,000. Qube Research & Technologies Ltd acquired a new position in Bitcoin Depot during the second quarter worth $74,000. Finally, Man Group plc acquired a new position in Bitcoin Depot during the second quarter worth $84,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.
About Bitcoin Depot
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.