Rosenblatt Securities Has Lowered Expectations for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target cut by investment analysts at Rosenblatt Securities from $30.00 to $18.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 47.54% from the company’s current price.

A number of other research analysts also recently issued reports on the company. BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. HC Wainwright dropped 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 report on Tuesday, November 11th. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Monday, October 20th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $14.00 target price (down previously from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and a consensus price target of $27.90.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock opened at $12.20 on Monday. The stock has a market cap of $2.58 billion, a P/E ratio of -2.17 and a beta of 2.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.90. The stock’s fifty day moving average is $12.35 and its 200 day moving average is $14.84. Bitdeer Technologies Group has a one year low of $6.84 and a one year high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results 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 company had revenue of $169.71 million during the quarter, compared to analysts’ expectations of $151.80 million. During the same quarter in the previous year, the company earned ($0.35) EPS. The business’s quarterly revenue was up 173.7% compared to the same quarter last year. Sell-side analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BTDR. First Trust Advisors LP lifted its position in shares of Bitdeer Technologies Group by 2.2% in the third quarter. First Trust Advisors LP now owns 40,138 shares of the company’s stock worth $686,000 after buying an additional 878 shares in the last quarter. Main Management ETF Advisors LLC increased its stake in Bitdeer Technologies Group by 1.6% in the 2nd quarter. Main Management ETF Advisors LLC now owns 57,153 shares of the company’s stock worth $656,000 after acquiring an additional 924 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Bitdeer Technologies Group by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after acquiring an additional 1,044 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Bitdeer Technologies Group by 5.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock worth $355,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Bitdeer Technologies Group by 1.3% during the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock valued at $1,791,000 after acquiring an additional 1,307 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

About Bitdeer Technologies Group

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.