Bitcoin Depot (NASDAQ:BTM) Upgraded by Northland Securities to Outperform Rating

Bitcoin Depot (NASDAQ:BTM) was upgraded by research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued on Friday,Finviz reports. The firm presently has a $5.00 price objective on the stock. Northland Securities’ target price suggests a potential upside of 139.23% from the company’s current price.

Several other research analysts have also recently weighed in on BTM. B. Riley restated a “buy” rating and set a $4.70 price target (up from $4.50) on shares of Bitcoin Depot in a report on Wednesday, March 19th. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Bitcoin Depot in a research note on Tuesday, March 18th.

Bitcoin Depot Price Performance

BTM stock opened at $2.09 on Friday. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50-day simple moving average of $1.42 and a two-hundred day simple moving average of $1.57. The company has a market capitalization of $133.63 million, a P/E ratio of -2.25 and a beta of -0.27. Bitcoin Depot has a 52-week low of $0.93 and a 52-week high of $3.52.

Bitcoin Depot (NASDAQ:BTM) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. Bitcoin Depot had a negative return on equity of 488.33% and a negative net margin of 2.28%.

Insider Activity at Bitcoin Depot

In related news, COO Christopher Scott Buchanan sold 20,476 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $1.33, for a total value of $27,233.08. Following the transaction, the chief operating officer now owns 169,276 shares in the company, valued at approximately $225,137.08. This represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 70.23% of the stock is owned by company insiders.

Institutional Trading of Bitcoin Depot

Hedge funds have recently made changes to their positions in the company. Blue Owl Capital Holdings LP raised its stake in Bitcoin Depot by 480.0% in the 4th quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock valued at $29,000 after acquiring an additional 15,000 shares during the period. Verdence Capital Advisors LLC purchased a new position in shares of Bitcoin Depot in the first quarter worth about $73,000. Renaissance Technologies LLC lifted its stake in shares of Bitcoin Depot by 96.4% during the 4th quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock valued at $237,000 after buying an additional 71,700 shares in the last quarter. Two Sigma Advisers LP bought a new position in Bitcoin Depot in the 4th quarter worth approximately $267,000. Finally, Two Sigma Investments LP bought a new stake in Bitcoin Depot during the 4th quarter valued at $427,000. 9.18% of the stock is currently owned by institutional investors.

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.