Bitcoin Depot’s (BTM) Buy Rating Reiterated at B. Riley

B. Riley restated their buy rating on shares of Bitcoin Depot (NASDAQ:BTM) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $4.70 price objective on the stock, up from their prior price objective of $4.50.

Separately, HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Bitcoin Depot in a report on Tuesday.

Bitcoin Depot Price Performance

Shares of BTM opened at $1.41 on Wednesday. The company’s 50-day moving average price is $1.44 and its 200 day moving average price is $1.61. Bitcoin Depot has a 12-month low of $0.93 and a 12-month high of $3.52. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 9.33. The firm has a market cap of $85.15 million, a P/E ratio of -1.52 and a beta of 0.10.

Hedge Funds Weigh In On Bitcoin Depot

Several hedge funds have recently bought and sold shares of the company. Walleye Capital LLC increased its stake in Bitcoin Depot by 110.1% during the 3rd quarter. Walleye Capital LLC now owns 23,542 shares of the company’s stock worth $37,000 after buying an additional 12,337 shares during the period. 272 Capital LP acquired a new position in shares of Bitcoin Depot in the third quarter worth $401,000. Renaissance Technologies LLC increased its position in shares of Bitcoin Depot by 96.4% during 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 during the period. Radcliffe Capital Management L.P. raised 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 valued at $463,000 after acquiring an additional 163,854 shares in the last quarter. Finally, Blue Owl Capital Holdings LP boosted its holdings 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 valued at $29,000 after purchasing an additional 15,000 shares during the period. Institutional investors and hedge funds own 9.18% 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.