B. Riley Has Weak Outlook for Bitcoin Depot FY2024 Earnings

Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) - Analysts at B. Riley reduced their FY2024 earnings estimates for shares of Bitcoin Depot in a research report issued to clients and investors on Monday, November 11th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings of ($0.01) per share for the year, down from their previous estimate of $0.02. The consensus estimate for Bitcoin Depot's current full-year earnings is ($0.09) per share.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last announced 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 company had revenue of $163.07 million for the quarter, compared to analyst estimates of $148.49 million. Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%.

A number of other research firms have also weighed in on BTM. HC Wainwright decreased their target price on Bitcoin Depot from $4.00 to $3.50 and set a "buy" rating on the stock in a report on Thursday, August 15th. Noble Financial raised Bitcoin Depot to a "strong-buy" rating in a research report on Thursday, October 17th.

Bitcoin Depot Trading Up 10.9 %

Shares of NASDAQ BTM traded up $0.27 during midday trading on Thursday, reaching $2.75. 3,383,216 shares of the stock were exchanged, compared to its average volume of 400,137. The company has a market capitalization of $165.30 million, a price-to-earnings 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 debt-to-equity ratio of 9.33, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50-day simple moving average of $1.60 and a two-hundred day simple moving average of $1.71.

Insider Buying and Selling

In related news, COO Christopher Scott Buchanan sold 20,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.56, for a total value of $31,200.00. Following the sale, the chief operating officer now directly owns 241,276 shares in the company, valued at approximately $376,390.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 50,100 shares of company stock valued at $77,051. 70.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BTM. Walleye Capital LLC raised its position in Bitcoin Depot by 110.1% during 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 last quarter. Renaissance Technologies LLC raised its stake in shares of Bitcoin Depot by 122.1% in the second quarter. Renaissance Technologies LLC now owns 47,300 shares of the company's stock worth $85,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Shaolin Capital Management LLC boosted its holdings 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 valued at $1,326,000 after acquiring an additional 49,600 shares during the last quarter. 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.