Noble Financial Weighs in on Bitcoin Depot FY2024 Earnings

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities research analysts at Noble Financial increased their FY2024 earnings per share (EPS) estimates for Bitcoin Depot in a research note issued on Thursday, November 14th. Noble Financial analyst P. Mccann now forecasts that the company will post earnings of $0.03 per share for the year, up from their previous estimate of $0.02. Noble Financial 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 research report on Thursday, August 15th.

Bitcoin Depot Price Performance

Shares of BTM opened at $1.93 on Monday. The firm has a market capitalization of $116.02 million, a PE ratio of -2.08 and a beta of -0.33. 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 stock has a 50 day simple moving average of $1.64 and a 200 day simple moving average of $1.71.

Insider Activity

In other news, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot stock in a transaction dated 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 transaction, the chief operating officer now owns 241,276 shares of the company’s stock, valued at $376,390.56. This trade represents a 7.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 50,100 shares of company stock worth $77,051 in the last quarter. Corporate insiders own 70.23% of the company’s stock.

Hedge Funds Weigh In On Bitcoin Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of BTM. Walleye Capital LLC lifted its position 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 acquiring an additional 12,337 shares during the last quarter. Renaissance Technologies LLC lifted 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 acquiring an additional 26,000 shares during the period. Finally, Shaolin Capital Management LLC lifted its position 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 purchasing an additional 49,600 shares during the period. Institutional investors own 9.18% of the company’s stock.

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.