Bitcoin Depot (NASDAQ:BTM) Receives “Buy” Rating from HC Wainwright

Bitcoin Depot (NASDAQ:BTM)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $4.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 189.23% from the stock’s current price.

Bitcoin Depot Price Performance

Shares of NASDAQ:BTM traded down $0.01 during midday trading on Tuesday, reaching $1.38. 954,577 shares of the company’s stock were exchanged, compared to its average volume of 338,120. 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 company’s 50 day simple moving average is $1.44 and its two-hundred day simple moving average is $1.61. Bitcoin Depot has a 12 month low of $0.93 and a 12 month high of $3.52. The firm has a market capitalization of $83.52 million, a PE ratio of -1.49 and a beta of 0.10.

Hedge Funds Weigh In On Bitcoin Depot

A number of hedge funds have recently modified their holdings of BTM. Welch Capital Partners LLC NY grew its position in Bitcoin Depot by 480.1% in the fourth quarter. Welch Capital Partners LLC NY now owns 522,073 shares of the company’s stock valued at $846,000 after acquiring an additional 432,073 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Bitcoin Depot during the 4th quarter worth about $267,000. Two Sigma Investments LP bought a new position in Bitcoin Depot during the 4th quarter valued at about $427,000. Blue Owl Capital Holdings LP boosted 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 valued at $29,000 after buying an additional 15,000 shares in the last quarter. Finally, Radcliffe Capital Management L.P. grew its stake in Bitcoin Depot by 134.3% during 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. 9.18% of the stock is owned by institutional investors and hedge funds.

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.