HC Wainwright Reaffirms “Buy” Rating for Bitcoin Depot (NASDAQ:BTM)

HC Wainwright reissued their buy rating on shares of Bitcoin Depot (NASDAQ:BTM) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $4.00 target price on the stock.

Bitcoin Depot Trading Up 1.4 %

Shares of BTM stock opened at $1.41 on Tuesday. The stock has a market capitalization of $85.15 million, a PE ratio of -1.52 and a beta of 0.10. Bitcoin Depot has a 1-year low of $0.93 and a 1-year high of $3.52. The business has a 50-day moving average of $1.44 and a 200 day moving average of $1.61. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91.

Institutional Investors Weigh In On Bitcoin Depot

Several institutional investors have recently bought and sold shares of the stock. Blue Owl Capital Holdings LP lifted its holdings in Bitcoin Depot by 480.0% in the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after buying an additional 15,000 shares during the period. Walleye Capital LLC lifted its stake in shares of Bitcoin Depot by 110.1% in the 3rd 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 lifted its stake in shares of Bitcoin Depot by 96.4% in the 4th 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 purchased a new position in shares of Bitcoin Depot in the 4th quarter valued at approximately $267,000. Finally, 272 Capital LP purchased a new position in shares of Bitcoin Depot in the 3rd quarter valued at approximately $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.