Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $9.76, but opened at $10.42. Bitdeer Technologies Group shares last traded at $10.0520, with a volume of 462,568 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BTDR shares. Jones Trading assumed coverage on Bitdeer Technologies Group in a report on Monday, October 6th. They issued a “buy” rating and a $32.00 target price on the stock. Roth Capital reaffirmed a “buy” rating and set a $40.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday, October 15th. Needham & Company LLC boosted their target price on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. BTIG Research reiterated a “buy” rating and issued a $25.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, November 26th. Finally, Cantor Fitzgerald reduced their price objective on Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Bitdeer Technologies Group Trading Up 10.0%

The firm has a 50-day moving average price of $16.22 and a 200-day moving average price of $14.87. 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 stock has a market capitalization of $2.33 billion, a PE ratio of -1.96 and a beta of 2.31.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted 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). The company had revenue of $169.71 million during the quarter, compared to the consensus estimate of $151.80 million. Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The company’s revenue for the quarter was up 173.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) EPS. As a group, equities analysts forecast that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its position in shares of Bitdeer Technologies Group by 68.4% during the second 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. Amalgamated Bank bought a new position in shares of Bitdeer Technologies Group in the second quarter valued at approximately $35,000. Tower Research Capital LLC TRC grew its stake in Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after acquiring an additional 7,157 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Bitdeer Technologies Group during the 2nd quarter worth approximately $105,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Bitdeer Technologies Group during the 2nd quarter worth approximately $129,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.