B. Riley Has Bearish Forecast for Bitcoin Depot Q3 Earnings

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities research analysts at B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for Bitcoin Depot in a research report issued to clients and investors on Monday, November 11th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings per share of ($0.01) for the quarter, down from their previous forecast of $0.01. The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.09) per share.

Bitcoin Depot (NASDAQ:BTM) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $163.07 million during the quarter, compared to analysts’ expectations of $148.49 million.

BTM has been the topic of a number of other reports. HC Wainwright reduced their price objective on shares of Bitcoin Depot from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Noble Financial upgraded shares of Bitcoin Depot to a “strong-buy” rating in a research note on Thursday, October 17th.

Bitcoin Depot Stock Performance

Bitcoin Depot stock opened at $2.51 on Wednesday. Bitcoin Depot has a 52 week low of $1.33 and a 52 week high of $3.70. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 9.33. The stock has a market cap of $150.88 million, a P/E ratio of -1.92 and a beta of -0.33. The stock has a 50 day moving average of $1.58 and a 200-day moving average of $1.71.

Institutional Investors Weigh In On Bitcoin Depot

An institutional investor recently raised its position in Bitcoin Depot stock. Renaissance Technologies LLC boosted its holdings in Bitcoin Depot Inc. (NASDAQ:BTM) by 122.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,300 shares of the company’s stock after acquiring an additional 26,000 shares during the quarter. Renaissance Technologies LLC owned 0.08% of Bitcoin Depot worth $85,000 at the end of the most recent quarter. 9.18% of the stock is owned by institutional investors.

Insider Activity at Bitcoin Depot

In other Bitcoin Depot news, COO Christopher Scott Buchanan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.56, for a total value of $31,200.00. Following the transaction, the chief operating officer now owns 241,276 shares of the company’s stock, valued at $376,390.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 50,100 shares of company stock valued at $77,051. Corporate insiders own 20.09% 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.