Analysts Set Expectations for Bitcoin Depot FY2024 Earnings

Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) - Equities researchers at Noble Financial upped their FY2024 earnings estimates for Bitcoin Depot in a report issued on Thursday, November 14th. Noble Financial analyst P. Mccann now forecasts that the company will post earnings per share of $0.03 for the year, up from their prior forecast of $0.02. Noble Financial currently has a "Strong-Buy" rating on the stock. The consensus estimate for Bitcoin Depot's current full-year earnings is ($0.06) per share.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). The firm had revenue of $163.07 million during the quarter, compared to analyst estimates of $148.49 million. Bitcoin Depot had a negative return on equity of 213.00% and a negative net margin of 2.28%.

Separately, HC Wainwright decreased their price objective on shares of Bitcoin Depot from $4.00 to $3.50 and set a "buy" rating for the company in a report on Thursday, August 15th.

Bitcoin Depot Stock Down 3.5 %

Shares of Bitcoin Depot stock traded down $0.07 on Monday, hitting $1.93. 1,470,527 shares of the company traded hands, compared to its average volume of 423,604. The company has a market cap of $116.02 million, a PE ratio of -2.08 and a beta of -0.33. Bitcoin Depot has a 12-month low of $1.33 and a 12-month high of $3.70. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 9.33. The company has a 50-day moving average price of $1.64 and a 200 day moving average price of $1.71.

Institutional Investors Weigh In On Bitcoin Depot

Institutional investors and hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC boosted its position in Bitcoin Depot by 110.1% in the third quarter. Walleye Capital LLC now owns 23,542 shares of the company's stock valued at $37,000 after buying an additional 12,337 shares in the last quarter. 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 worth $85,000 after buying an additional 26,000 shares in the last quarter. Finally, Shaolin Capital Management LLC lifted its position in shares of Bitcoin Depot by 7.6% during the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company's stock worth $1,326,000 after buying an additional 49,600 shares in the last quarter. Institutional investors own 9.18% of the company's stock.

Insider Buying and Selling

In other news, COO Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total transaction of $31,200.00. Following the transaction, the chief operating officer now owns 241,276 shares in the company, valued at $376,390.56. The trade was a 7.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 50,100 shares of company stock worth $77,051 over the last three months. 70.23% of the stock is currently owned by company insiders.

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.