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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.50.

Several research analysts have recently issued reports on BTDR shares. B. Riley Financial raised their price target on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Cantor Fitzgerald upped their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Rosenblatt Securities increased their target price on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Needham & Company LLC raised their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th.

Bitdeer Technologies Group Trading Down 2.8%

BTDR opened at $17.43 on Thursday. The firm has a 50 day simple moving average of $14.81 and a 200 day simple moving average of $12.12. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -5.05 and a beta of 2.45. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.85 and a quick ratio of 1.11.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). The business had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.02 million. Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.Bitdeer Technologies Group’s revenue was up 169.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.37) EPS. On average, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Bitdeer Technologies Group by 167.6% in the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after purchasing an additional 302,548 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Bitdeer Technologies Group by 39.0% in the 2nd quarter. Legal & General Group Plc now owns 73,541 shares of the company’s stock valued at $844,000 after buying an additional 20,640 shares during the period. New York State Common Retirement Fund acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at $326,000. Invesco Ltd. increased its position in shares of Bitdeer Technologies Group by 169.0% in the 2nd quarter. Invesco Ltd. now owns 71,822 shares of the company’s stock valued at $825,000 after buying an additional 45,120 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at $1,558,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.