Bitcoin Depot’s (BTM) “Buy” Rating Reiterated at B. Riley

B. Riley reiterated their buy rating on shares of Bitcoin Depot (NASDAQ:BTM) in a research report released on Wednesday morning,Benzinga reports. They currently have a $4.70 price target on the stock, up from their prior price target of $4.50. B. Riley also issued estimates for Bitcoin Depot’s Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.12 EPS, Q3 2025 earnings at $0.12 EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at $0.40 EPS.

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Bitcoin Depot in a report on Tuesday.

Bitcoin Depot Price Performance

Shares of Bitcoin Depot stock opened at $1.36 on Wednesday. The business’s fifty day moving average price is $1.43 and its 200 day moving average price is $1.60. Bitcoin Depot has a twelve month low of $0.93 and a twelve month high of $3.52. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 9.33. The stock has a market capitalization of $82.13 million, a P/E ratio of -1.46 and a beta of 0.10.

Institutional Investors Weigh In On Bitcoin Depot

Several institutional investors and hedge funds have recently modified their holdings of BTM. Blue Owl Capital Holdings LP lifted its position in Bitcoin Depot by 480.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after acquiring an additional 15,000 shares in the last quarter. Walleye Capital LLC lifted its position 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 in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Bitcoin Depot by 96.4% in the fourth quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock valued at $237,000 after purchasing an additional 71,700 shares during the period. Two Sigma Advisers LP acquired a new stake in Bitcoin Depot during the 4th quarter valued at $267,000. Finally, 272 Capital LP purchased a new stake in Bitcoin Depot during the 3rd quarter worth $401,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

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.