Keefe, Bruyette & Woods Cuts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $10.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target dropped by research analysts at Keefe, Bruyette & Woods from $14.00 to $10.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 9.53% from the stock’s previous close.

BTDR has been the topic of several other reports. B. Riley Financial dropped their price objective on Bitdeer Technologies Group from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday. Wall Street Zen cut Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Cantor Fitzgerald raised shares of Bitdeer Technologies Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $15.00 to $18.00 in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Citizens Jmp initiated coverage on shares of Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bitdeer Technologies Group presently has an average rating of “Moderate Buy” and a consensus price target of $24.82.

Bitdeer Technologies Group Stock Up 1.2%

NASDAQ:BTDR traded up $0.11 on Thursday, reaching $9.13. The stock had a trading volume of 1,687,656 shares, compared to its average volume of 9,059,326. The company has a 50-day moving average of $13.91 and a 200 day moving average of $12.24. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The stock has a market cap of $2.15 billion, a P/E ratio of -2.99 and a beta of 2.50. Bitdeer Technologies Group has a 12-month low of $6.92 and a 12-month high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. Bitdeer Technologies Group had a negative return on equity of 61.88% and a negative net margin of 55.15%.The business had revenue of $228.78 million for the quarter. On average, research analysts predict that Bitdeer Technologies Group will post -1.54 earnings per share for the current year.

Insider Activity at Bitdeer Technologies Group

In other news, CFO Michael G. Potter purchased 25,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $9.04 per share, for a total transaction of $226,000.00. Following the acquisition, the chief financial officer owned 25,000 shares of the company’s stock, valued at $226,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently added to or reduced their stakes in the business. Situational Awareness LP raised its stake in Bitdeer Technologies Group by 92.4% during the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after acquiring an additional 1,651,450 shares during the period. Bank of Nova Scotia grew its holdings in shares of Bitdeer Technologies Group by 91.1% during the first quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock valued at $11,846,000 after purchasing an additional 652,874 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Bitdeer Technologies Group during the first quarter valued at approximately $2,048,000. Fund Resources Investment Holding Group Co Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $102,732,000. Finally, UBS Group AG raised its position in shares of Bitdeer Technologies Group by 2.4% during the 4th quarter. UBS Group AG now owns 2,246,381 shares of the company’s stock worth $25,182,000 after purchasing an additional 52,808 shares during the period. Institutional investors and hedge funds 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.