Bitdeer Technologies Group (NASDAQ:BTDR) Receives Consensus Rating of “Moderate Buy” from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR) has received an average rating of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.3333.

A number of equities research analysts recently commented on the stock. B. Riley reduced their price objective on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 20th. Needham & Company LLC lifted their price target on Bitdeer Technologies Group from $17.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen lowered Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Finally, HC Wainwright reduced their target price on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, November 11th.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR opened at $13.43 on Friday. The stock has a fifty day moving average price of $18.28 and a 200 day moving average price of $15.19. Bitdeer Technologies Group has a 1-year low of $6.84 and a 1-year high of $27.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.74. The company has a market cap of $2.84 billion, a PE ratio of -2.39 and a beta of 2.28.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The firm had revenue of $169.71 million for the quarter, compared to analysts’ expectations of $151.80 million. During the same quarter in the previous year, the company posted ($0.35) EPS. The firm’s quarterly revenue was up 173.7% compared to the same quarter last year. Sell-side analysts forecast that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors have recently added to or reduced their stakes in BTDR. Bank of America Corp DE increased its holdings in Bitdeer Technologies Group by 67.5% in the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after buying an additional 2,553,093 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Bitdeer Technologies Group by 197.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock worth $18,280,000 after acquiring an additional 1,057,552 shares during the period. Azora Capital LP purchased a new position in Bitdeer Technologies Group in the 3rd quarter valued at approximately $23,817,000. FengHe Fund Management Pte. Ltd. raised its holdings in Bitdeer Technologies Group by 178.2% during the first quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company’s stock worth $11,763,000 after purchasing an additional 853,300 shares during the last quarter. Finally, Value Aligned Research Advisors LLC boosted its position in Bitdeer Technologies Group by 58.1% during the third quarter. Value Aligned Research Advisors LLC now owns 1,316,500 shares of the company’s stock worth $22,499,000 after purchasing an additional 483,991 shares in the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.