B. Riley lowered the firm’s price target on Bitcoin Depot to $4 from $6 and keeps a Buy rating on the shares. Bitcoin Depot reported weak Q4 results and outlook as California regulation changes for Bitcoin ATM operators limiting transaction size to $1,000 per day is having a very negative impact, the analyst tells investors in a research note. The firm’s new forecast excludes the impact of a New York entry, which is not expected to be in Q2.
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Read More on BTM:
- Bitcoin Depot Expands into Puerto Rico with Nearly 100 BTM Locations Signed
- Bitcoin Depot sees Q1 revenue $137M-$138M, consensus $167.74M
- Bitcoin Depot reports Q4 revenue $148.4M, consensus $161.5M.
- BTM Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Bitcoin Depot price target lowered to $5 from $6 at H.C. Wainwright
