Bitcoin Depot (NASDAQ:BTM) Rating Increased to Strong-Buy at Noble Financial

Bitcoin Depot (NASDAQ:BTM) was upgraded by Noble Financial to a “strong-buy” rating in a report released on Thursday, Zacks.com reports.

Separately, HC Wainwright dropped their price objective on Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Thursday, August 15th.

Bitcoin Depot Price Performance

NASDAQ:BTM opened at $1.56 on Thursday. The company has a market capitalization of $93.00 million, a price-to-earnings ratio of -0.83 and a beta of -0.35. The company has a 50-day moving average of $1.59 and a 200-day moving average of $1.72. Bitcoin Depot has a 52 week low of $1.33 and a 52 week high of $3.70. The company has a debt-to-equity ratio of 9.33, a quick ratio of 1.16 and a current ratio of 1.16.

Bitcoin Depot (NASDAQ:BTM) last released its quarterly earnings data 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 net margin of 3.10% and a negative return on equity of 307.37%. The company had revenue of $163.07 million during the quarter, compared to the consensus estimate of $148.49 million. As a group, equities research analysts anticipate that Bitcoin Depot will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other Bitcoin Depot news, major shareholder Andrew Mitchell Paul purchased 38,560 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $1.70 per share, for a total transaction of $65,552.00. Following the transaction, the insider now directly owns 155,786 shares in the company, valued at approximately $264,836.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, COO Christopher Scott Buchanan sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 241,276 shares of the company’s stock, valued at $376,390.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Andrew Mitchell Paul acquired 38,560 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $1.70 per share, with a total value of $65,552.00. Following the transaction, the insider now directly owns 155,786 shares in the company, valued at $264,836.20. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 155,786 shares of company stock worth $257,817 and sold 70,100 shares worth $109,637. 20.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bitcoin Depot

Hedge funds and other institutional investors have recently made changes to their positions in the company. Privium Fund Management UK Ltd acquired a new position in Bitcoin Depot in the first quarter valued at about $60,000. Renaissance Technologies LLC raised 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 worth $85,000 after purchasing an additional 26,000 shares during the period. Finally, Shaolin Capital Management LLC boosted its position in shares of Bitcoin Depot by 7.6% during the first quarter. Shaolin Capital Management LLC now owns 699,600 shares of the company’s stock worth $1,326,000 after purchasing an additional 49,600 shares in the last quarter. 9.18% of the stock is owned by institutional investors and hedge funds.

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.