FY2024 EPS Estimates for Bitcoin Depot Boosted by Analyst

Bitcoin Depot Inc. (NASDAQ:BTM) – Equities research analysts at Northland Capmk upped their FY2024 earnings estimates for Bitcoin Depot in a report issued on Wednesday, January 22nd. Northland Capmk analyst M. Grondahl now expects that the company will post earnings per share of $0.02 for the year, up from their previous estimate of ($0.16). The consensus estimate for Bitcoin Depot’s current full-year earnings is ($0.11) per share. Northland Capmk also issued estimates for Bitcoin Depot’s Q4 2024 earnings at $0.11 EPS, Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS and FY2025 earnings at $0.43 EPS.

Separately, Noble Financial raised Bitcoin Depot to a “strong-buy” rating in a research note on Thursday, October 17th.

Bitcoin Depot Price Performance

Shares of BTM opened at $1.72 on Friday. The business’s 50 day simple moving average is $1.77 and its 200-day simple moving average is $1.68. Bitcoin Depot has a one year low of $1.33 and a one year high of $3.52. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.91 and a quick ratio of 0.91.

Hedge Funds Weigh In On Bitcoin Depot

A number of large investors have recently modified their holdings of the stock. Walleye Capital LLC raised its position in Bitcoin Depot by 110.1% in the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after purchasing an additional 12,337 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Bitcoin Depot by 122.1% during the second 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. Finally, 272 Capital LP acquired a new position in shares of Bitcoin Depot during the third quarter valued at $401,000. 9.18% of the stock is currently owned by institutional investors and hedge funds.

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.