Bitcoin Depot Inc. (NASDAQ:BTM) to Post Q3 2024 Earnings of ($0.04) Per Share, HC Wainwright Forecasts

Bitcoin Depot Inc. (NASDAQ:BTM) – Research analysts at HC Wainwright reduced their Q3 2024 earnings per share estimates for shares of Bitcoin Depot in a report released on Wednesday, August 14th. HC Wainwright analyst M. Colonnese now expects that the company will earn ($0.04) per share for the quarter, down from their previous forecast of ($0.01). HC Wainwright currently has a “Buy” rating and a $3.50 price target on the stock. The consensus estimate for Bitcoin Depot’s current full-year earnings is $0.04 per share. HC Wainwright also issued estimates for Bitcoin Depot’s Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.21) EPS, Q1 2025 earnings at ($0.16) EPS, Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.23) EPS.

Bitcoin Depot Stock Performance

BTM opened at $1.67 on Friday. The company has a fifty day moving average price of $1.70 and a two-hundred day moving average price of $1.96. Bitcoin Depot has a 1-year low of $1.33 and a 1-year high of $3.70. The company has a market cap of $99.56 million, a P/E ratio of -0.89 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.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BTM. Privium Fund Management UK Ltd bought a new stake in Bitcoin Depot during the first quarter worth $60,000. Owl Creek Asset Management L.P. bought a new position in Bitcoin Depot during the 4th quarter valued at $68,000. Renaissance Technologies LLC boosted its holdings in Bitcoin Depot by 122.1% during the 2nd quarter. Renaissance Technologies LLC now owns 47,300 shares of the company’s stock worth $85,000 after acquiring an additional 26,000 shares during the last quarter. Shaolin Capital Management LLC grew its stake in shares of Bitcoin Depot by 7.6% in 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. Finally, Cohanzick Management LLC raised its holdings in shares of Bitcoin Depot by 54.4% in the fourth quarter. Cohanzick Management LLC now owns 602,000 shares of the company’s stock valued at $1,944,000 after purchasing an additional 212,000 shares during the last quarter. Institutional investors own 9.18% of the company’s stock.

Insider Buying and Selling

In related news, insider Brandon Taylor Mintz sold 17,454 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1.79, for a total value of $31,242.66. Following the transaction, the insider now directly owns 529,248 shares in the company, valued at approximately $947,353.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Brandon Taylor Mintz sold 17,454 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1.79, for a total transaction of $31,242.66. Following the completion of the sale, the insider now directly owns 529,248 shares of the company’s stock, valued at $947,353.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Christopher Scott Buchanan sold 20,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $1.90, for a total transaction of $38,000.00. Following the completion of the sale, the chief operating officer now owns 311,276 shares in the company, valued at approximately $591,424.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,151 shares of company stock valued at $192,917. 20.09% of the stock is owned by company insiders.

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.