Bitdeer Technologies Group (NASDAQ:BTDR) Receives $26.60 Average Target Price from Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.60.

Several research analysts have recently commented on the company. Rosenblatt Securities reissued a “buy” rating and set a $18.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $14.00 price objective (down from $26.50) on shares of Bitdeer Technologies Group in a report on Tuesday, January 27th. HC Wainwright cut their target price on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, Cantor Fitzgerald cut their target price on Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 16th.

Bitdeer Technologies Group Stock Up 2.8%

Shares of NASDAQ BTDR opened at $9.61 on Friday. Bitdeer Technologies Group has a 12 month low of $6.84 and a 12 month high of $27.80. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -3.06 and a beta of 2.28. The business has a 50-day moving average of $9.52 and a 200-day moving average of $13.43.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) 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 business had revenue of $224.84 million for the quarter, compared to analysts’ expectations of $208.25 million. Bitdeer Technologies Group’s revenue for the quarter was up 225.8% compared to the same quarter last year. Sell-side analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in Bitdeer Technologies Group by 3.7% in the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock worth $806,000 after buying an additional 2,597 shares in the last quarter. Vident Advisory LLC boosted its stake in Bitdeer Technologies Group by 39.3% in the fourth quarter. Vident Advisory LLC now owns 1,186,662 shares of the company’s stock worth $13,302,000 after buying an additional 334,548 shares in the last quarter. Empowered Funds LLC purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth approximately $34,000. Vennlight Capital Management LP purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth approximately $1,030,000. Finally, Engineers Gate Manager LP purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth approximately $604,000. Hedge funds and other 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.