Christopher Scott Buchanan Sells 8,443 Shares of Bitcoin Depot Inc. (NASDAQ:BTM) Stock

Bitcoin Depot Inc. (NASDAQ:BTM) COO Christopher Scott Buchanan sold 8,443 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $1.70, for a total value of $14,353.10. Following the sale, the chief operating officer now owns 285,379 shares of the company’s stock, valued at approximately $485,144.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Christopher Scott Buchanan also recently made the following trade(s):

• On Monday, June 3rd, Christopher Scott Buchanan sold 20,000 shares of Bitcoin Depot stock. The shares were sold at an average price of $1.90, for a total value of $38,000.00.
• On Tuesday, May 7th, Christopher Scott Buchanan sold 12,875 shares of Bitcoin Depot stock. The stock was sold at an average price of $1.83, for a total value of $23,561.25.
• On Monday, April 29th, Christopher Scott Buchanan sold 50,000 shares of Bitcoin Depot stock. The shares were sold at an average price of $1.75, for a total transaction of $87,500.00.

Bitcoin Depot Price Performance

Shares of NASDAQ:BTM traded up $0.09 during midday trading on Wednesday, hitting $1.71. The stock had a trading volume of 55,195 shares, compared to its average volume of 262,841. Bitcoin Depot Inc. has a fifty-two week low of $1.36 and a fifty-two week high of $4.49. The company’s 50-day moving average price is $1.87 and its 200-day moving average price is $2.14. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 7.66. The company has a market capitalization of $101.95 million, a P/E ratio of -0.91 and a beta of -0.35.

Bitcoin Depot (NASDAQ:BTM) last posted its earnings results on Tuesday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). Bitcoin Depot had a negative return on equity of 483.86% and a negative net margin of 4.28%. The company had revenue of $138.54 million for the quarter, compared to the consensus estimate of $132.85 million. As a group, equities research analysts predict that Bitcoin Depot Inc. will post 0.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. B. Riley dropped their price objective on shares of Bitcoin Depot from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of Bitcoin Depot in a research note on Tuesday, May 14th.

Hedge Funds Weigh In On Bitcoin Depot

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Shaolin Capital Management LLC bought a new stake in shares of Bitcoin Depot in the third quarter worth $2,105,000. Cohanzick Management LLC lifted its holdings in Bitcoin Depot by 54.4% during the 4th quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock worth $1,944,000 after buying an additional 212,000 shares during the period. Owl Creek Asset Management L.P. bought a new stake in shares of Bitcoin Depot in the 4th quarter valued at about $68,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Bitcoin Depot in the third quarter valued at about $1,075,000. Finally, Privium Fund Management UK Ltd bought a new position in shares of Bitcoin Depot during the first quarter worth about $60,000. Institutional investors and hedge funds 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.