B. Riley Brokers Raise Earnings Estimates for Bitcoin Depot

Bitcoin Depot Inc. (NASDAQ:BTM) – Stock analysts at B. Riley increased their Q4 2024 earnings per share (EPS) estimates for shares of Bitcoin Depot in a research report issued to clients and investors on Wednesday, January 22nd. B. Riley analyst H. Goetsch now forecasts that the company will earn $0.06 per share for the quarter, up from their previous forecast of $0.04. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.11) per share.

Separately, Noble Financial raised Bitcoin Depot to a “strong-buy” rating in a research report on Thursday, October 17th.

Bitcoin Depot Trading Up 4.1 %

NASDAQ BTM opened at $1.79 on Thursday. Bitcoin Depot has a fifty-two week low of $1.33 and a fifty-two week high of $3.52. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $1.68. The stock has a market cap of $108.10 million and a P/E ratio of -1.92.

Hedge Funds Weigh In On Bitcoin Depot

Institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC grew its holdings in Bitcoin Depot by 110.1% during the third quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock valued at $37,000 after purchasing an additional 12,337 shares during the period. Renaissance Technologies LLC grew its holdings in Bitcoin Depot by 122.1% during the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock valued at $85,000 after purchasing an additional 26,000 shares during the period. Finally, 272 Capital LP bought a new stake in Bitcoin Depot during the third quarter valued at about $401,000. 9.18% of the stock is currently owned by hedge funds and other institutional investors.

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.