HC Wainwright Trims Bitcoin Depot (NASDAQ:BTM) Target Price to $3.50

Bitcoin Depot (NASDAQ:BTM) had its price objective decreased by stock analysts at HC Wainwright from $4.00 to $3.50 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 124.36% from the stock’s previous close.

Bitcoin Depot Stock Performance

BTM opened at $1.56 on Thursday. Bitcoin Depot has a twelve month low of $1.33 and a twelve month high of $3.70. The firm has a market capitalization of $93.00 million, a PE ratio of -0.83 and a beta of -0.35. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 7.66. The firm’s 50-day moving average price is $1.72 and its 200 day moving average price is $1.96.

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

Insiders Place Their Bets

In other news, insider Brandon Taylor Mintz sold 27,399 shares of Bitcoin Depot stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $1.89, for a total transaction of $51,784.11. Following the transaction, the insider now owns 569,303 shares in the company, valued at approximately $1,075,982.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Christopher Scott Buchanan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $1.90, for a total value of $38,000.00. Following the transaction, the chief operating officer now directly owns 311,276 shares in the company, valued at $591,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandon Taylor Mintz sold 27,399 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $1.89, for a total value of $51,784.11. Following the completion of the transaction, the insider now owns 569,303 shares of the company’s stock, valued at $1,075,982.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,151 shares of company stock valued at $192,917. Insiders own 20.09% of the company’s stock.

Hedge Funds Weigh In On Bitcoin Depot

Several large investors have recently modified their holdings of BTM. Cohanzick Management LLC raised its stake in shares of Bitcoin Depot by 54.4% in the 4th quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock valued at $1,944,000 after acquiring an additional 212,000 shares during the period. Shaolin Capital Management LLC raised its position in Bitcoin Depot by 7.6% in the first quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock valued at $1,326,000 after purchasing an additional 49,600 shares during the period. Privium Fund Management UK Ltd purchased a new stake in Bitcoin Depot in the first quarter valued at approximately $60,000. Renaissance Technologies LLC boosted its position in shares of 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 during the period. Finally, Owl Creek Asset Management L.P. acquired a new stake in shares of Bitcoin Depot in the fourth quarter valued at $68,000. Institutional investors and hedge funds own 9.18% of the company’s stock.

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.