Noble Financial Forecasts Lower Earnings for Bitcoin Depot

Bitcoin Depot Inc. (NASDAQ:BTM - Free Report) - Equities research analysts at Noble Financial reduced their Q4 2024 earnings estimates for Bitcoin Depot in a research note issued to investors on Thursday, November 14th. Noble Financial analyst P. Mccann now expects that the company will post earnings of ($0.01) per share for the quarter, down from their prior forecast of $0.01. Noble Financial currently has a "Strong-Buy" rating on the stock. The consensus estimate for Bitcoin Depot's current full-year earnings is ($0.10) per share. Noble Financial also issued estimates for Bitcoin Depot's FY2025 earnings at $0.31 EPS.

Bitcoin Depot (NASDAQ:BTM - Get Free Report) last issued its earnings results on Thursday, August 15th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.16). Bitcoin Depot had a negative return on equity of 307.37% and a negative net margin of 3.10%. The company had revenue of $163.07 million for the quarter, compared to analyst estimates of $148.49 million.

Separately, HC Wainwright lowered their price target 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 Price Performance

Shares of BTM opened at $2.43 on Friday. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16. The firm's 50-day moving average is $1.62 and its two-hundred day moving average is $1.72. Bitcoin Depot has a twelve month low of $1.33 and a twelve month high of $3.70.

Insider Transactions at Bitcoin Depot

In related news, COO Christopher Scott Buchanan sold 20,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total transaction of $31,200.00. Following the completion of the sale, the chief operating officer now directly owns 241,276 shares of the company's stock, valued at approximately $376,390.56. This trade represents a 7.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 50,100 shares of company stock valued at $77,051 over the last 90 days. Corporate insiders own 70.23% of the company's stock.

Institutional Investors Weigh In On Bitcoin Depot

A number of large investors have recently added to or reduced their stakes in the company. Shaolin Capital Management LLC grew its holdings in 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 acquiring an additional 49,600 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Bitcoin Depot by 122.1% during the 2nd 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 period. Finally, Walleye Capital LLC boosted its stake 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 period. 9.18% of the stock is owned by institutional investors and hedge funds.

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.

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