Bitdeer Technologies Group (NASDAQ:BTDR) Trading 9.8% Higher – Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price shot up 9.8% during trading on Friday . The stock traded as high as $10.77 and last traded at $10.9940. 3,319,031 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 6,046,152 shares. The stock had previously closed at $10.01.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BTDR shares. HC Wainwright decreased their price target on shares of Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Roth Capital reissued a “buy” rating and issued a $40.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, October 15th. BTIG Research restated a “buy” rating and set a $25.00 price target on shares of Bitdeer Technologies Group in a research report on Wednesday, November 26th. Jones Trading assumed coverage on Bitdeer Technologies Group in a report on Monday, October 6th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Rosenblatt Securities raised their price objective on Bitdeer Technologies Group from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Bitdeer Technologies Group Price Performance

The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a market cap of $2.33 billion, a PE ratio of -1.96 and a beta of 2.31. The firm has a 50 day moving average of $16.22 and a two-hundred day moving average of $14.88.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Monday, November 10th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate 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 company had revenue of $169.71 million during the quarter, compared to the consensus estimate of $151.80 million. During the same period last year, the firm posted ($0.35) earnings per share. The company’s revenue was up 173.7% compared to the same quarter last year. Research analysts predict that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL bought a new position in shares of Bitdeer Technologies Group in the third quarter worth approximately $6,792,000. Value Aligned Research Advisors LLC lifted its position in Bitdeer Technologies Group by 65.6% in the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,378,789 shares of the company’s stock valued at $23,564,000 after acquiring an additional 546,280 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Bitdeer Technologies Group during the 3rd quarter valued at $159,000. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth $402,000. Finally, Two Seas Capital LP purchased a new position in shares of Bitdeer Technologies Group in the third quarter worth $7,690,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.