Bitcoin Depot (NASDAQ:BTM) Price Target Raised to $5.50 at B. Riley

Bitcoin Depot (NASDAQ:BTM) had its price objective hoisted by B. Riley from $4.70 to $5.50 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Northland Securities upgraded shares of Bitcoin Depot from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Friday. HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of Bitcoin Depot in a report on Tuesday, March 18th.

Bitcoin Depot Stock Up 28.2%

BTM stock opened at $2.68 on Friday. Bitcoin Depot has a 52-week low of $0.93 and a 52-week high of $3.52. The company’s 50 day simple moving average is $1.45 and its 200-day simple moving average is $1.58. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $171.36 million, a P/E ratio of -2.88 and a beta of -0.27.

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

Insider Activity at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,476 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $1.33, for a total value of $27,233.08. Following the completion of the sale, the chief operating officer now directly owns 169,276 shares of the company’s stock, valued at $225,137.08. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 70.23% of the stock is currently owned by insiders.

Institutional Trading of Bitcoin Depot

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in Bitcoin Depot by 96.4% in the fourth quarter. Renaissance Technologies LLC now owns 146,100 shares of the company’s stock worth $237,000 after acquiring an additional 71,700 shares in the last quarter. Blue Owl Capital Holdings LP grew its position in Bitcoin Depot by 480.0% in the fourth quarter. Blue Owl Capital Holdings LP now owns 18,125 shares of the company’s stock worth $29,000 after acquiring an additional 15,000 shares in the last quarter. Radcliffe Capital Management L.P. lifted its stake in shares of Bitcoin Depot by 134.3% in the fourth quarter. Radcliffe Capital Management L.P. now owns 285,835 shares of the company’s stock worth $463,000 after buying an additional 163,854 shares during the last quarter. Welch Capital Partners LLC NY lifted its stake in shares of Bitcoin Depot by 85.1% in the first quarter. Welch Capital Partners LLC NY now owns 966,250 shares of the company’s stock worth $1,459,000 after buying an additional 444,177 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Bitcoin Depot in the first quarter worth $73,000. 9.18% of the stock is 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.