Bitcoin Depot (NASDAQ:BTM) Upgraded at Noble Financial

Bitcoin Depot (NASDAQ:BTM - Get Free Report) was upgraded by investment analysts at Noble Financial to a "strong-buy" rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

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

Bitcoin Depot Trading Up 4.7 %

Shares of Bitcoin Depot stock traded up $0.07 during mid-day trading on Thursday, hitting $1.56. 150,195 shares of the stock were exchanged, compared to its average volume of 200,306. The stock has a market capitalization of $93.00 million, a price-to-earnings ratio of -0.83 and a beta of -0.35. Bitcoin Depot has a twelve month low of $1.33 and a twelve month high of $3.70. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 9.33. The company has a 50-day simple moving average of $1.59 and a 200 day simple moving average of $1.72.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last announced its earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). The firm 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%. Research analysts forecast that Bitcoin Depot will post -0.09 EPS for the current year.

Insider Transactions at Bitcoin Depot

In other Bitcoin Depot news, major shareholder Andrew Mitchell Paul bought 19,422 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $1.54 per share, with a total value of $29,909.88. Following the transaction, the insider now owns 19,422 shares in the company, valued at $29,909.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Andrew Mitchell Paul purchased 19,422 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $1.54 per share, for a total transaction of $29,909.88. Following the acquisition, the insider now owns 19,422 shares in the company, valued at approximately $29,909.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Christopher Scott Buchanan sold 20,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total value of $31,200.00. Following the completion of the transaction, the chief operating officer now directly owns 241,276 shares in the company, valued at $376,390.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 155,786 shares of company stock worth $257,817 and have sold 70,100 shares worth $109,637. Company insiders own 20.09% of the company's stock.

Hedge Funds Weigh In On Bitcoin Depot

Institutional investors and hedge funds have recently bought and sold shares of the stock. Shaolin Capital Management LLC boosted its position in Bitcoin Depot by 7.6% in the 1st quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company's stock valued at $1,326,000 after buying an additional 49,600 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Bitcoin Depot by 122.1% in 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 last quarter. Finally, Privium Fund Management UK Ltd acquired a new stake in Bitcoin Depot during the 1st quarter valued at approximately $60,000. 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.