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

Bitdeer Technologies Group (NASDAQ:BTDR) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $24.50.

BTDR has been the subject of a number of recent research reports. Zacks Research cut Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. UBS Group reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Bitdeer Technologies Group in a research report on Wednesday. Cantor Fitzgerald increased their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Finally, HC Wainwright decreased their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 12th.

Bitdeer Technologies Group Stock Down 1.8%

Bitdeer Technologies Group stock opened at $14.65 on Friday. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80. The stock has a 50 day moving average of $11.09 and a two-hundred day moving average of $11.66. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -4.25 and a beta of 2.32.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The company had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.02 million. During the same period in the previous year, the business posted ($0.37) earnings per share. The firm’s revenue was up 169.5% compared to the same quarter last year. As a group, research analysts expect that Bitdeer Technologies Group will post -1.06 earnings per share for the current year.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $1,355,000. Tudor Investment Corp ET AL acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $6,792,000. Keystone Investors PTE Ltd. acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $7,844,000. Neo Ivy Capital Management acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $3,427,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Bitdeer Technologies Group by 2,332.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 272,313 shares of the company’s stock valued at $4,654,000 after buying an additional 261,118 shares during the period. 22.25% of the stock is owned by institutional investors and hedge funds.

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.