Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) Target Price at $26.60

Bitdeer Technologies Group (NASDAQ:BTDR) has received an average rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $26.60.

A number of analysts have recently issued reports on BTDR shares. Needham & Company LLC cut their price target on shares of Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Cantor Fitzgerald lowered their price objective on Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Benchmark reduced their target price on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Rosenblatt Securities decreased their price target on Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, February 9th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in shares of Bitdeer Technologies Group by 167.6% during the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after acquiring an additional 302,548 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $129,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $207,000. ProShare Advisors LLC purchased a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $211,000. Finally, SBI Securities Co. Ltd. increased its holdings in Bitdeer Technologies Group by 42.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 31,407 shares of the company’s stock valued at $361,000 after purchasing an additional 9,405 shares during the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Up 2.2%

Shares of BTDR stock opened at $7.50 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. Bitdeer Technologies Group has a twelve month low of $6.84 and a twelve month high of $27.80. The company’s 50-day moving average price is $11.07 and its 200-day moving average price is $14.07. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -2.39 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.59). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The firm had revenue of $224.84 million for the quarter, compared to analyst estimates of $208.25 million. The business’s quarterly revenue was up 225.8% compared to the same quarter last year. As a group, equities analysts predict that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

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.