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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $25.4545.

Several research firms have recently weighed in on BTDR. Rosenblatt Securities increased their price target on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. B. Riley Financial lifted their price target on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Citizens Jmp initiated coverage on Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price objective on the stock. Needham & Company LLC increased their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, May 20th.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently modified their holdings of BTDR. Fund Resources Investment Holding Group Co Ltd increased its position in shares of Bitdeer Technologies Group by 3.0% during the 1st quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock worth $81,660,000 after purchasing an additional 276,098 shares during the last quarter. Bank of America Corp DE lifted its position in Bitdeer Technologies Group by 67.5% in the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after buying an additional 2,553,093 shares during the last quarter. Situational Awareness LP lifted its position in Bitdeer Technologies Group by 92.4% in the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock valued at $29,751,000 after buying an additional 1,651,450 shares during the last quarter. Value Aligned Research Advisors LLC lifted its position in Bitdeer Technologies Group by 137.0% in the fourth quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after buying an additional 1,888,825 shares during the last quarter. Finally, State Street Corp boosted its stake in Bitdeer Technologies Group by 34.1% during the fourth quarter. State Street Corp now owns 3,144,782 shares of the company’s stock worth $35,253,000 after buying an additional 800,003 shares during the period. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $13.29 on Monday. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. Bitdeer Technologies Group has a 12-month low of $6.92 and a 12-month high of $27.80. The firm has a 50-day moving average price of $15.67 and a 200 day moving average price of $12.50. The firm has a market capitalization of $3.13 billion, a P/E ratio of -3.85 and a beta of 2.47.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.02 million. During the same quarter in the previous year, the business posted ($0.37) earnings per share. Bitdeer Technologies Group’s revenue for the quarter was up 169.5% on a year-over-year basis. Sell-side analysts forecast that Bitdeer Technologies Group will post -1.18 EPS for the current year.

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.