Bitdeer Technologies Group (NASDAQ:BTDR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.00.

Several research analysts have issued reports on the company. Zacks Research upgraded Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Bitdeer Technologies Group in a research note on Thursday, August 13th. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Tuesday, August 11th. Needham & Company LLC dropped their target price on shares of Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Barclays initiated coverage on shares of Bitdeer Technologies Group in a report on Thursday, August 20th. They set an “overweight” rating and a $15.00 price target for the company.

Insider Activity at Bitdeer Technologies Group

In other news, CFO Michael G. Potter bought 25,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $9.04 per share, for a total transaction of $226,000.00. Following the completion of the purchase, the chief financial officer owned 25,000 shares of the company’s stock, valued at approximately $226,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Haris Fozan Basit bought 25,000 shares of Bitdeer Technologies Group stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $8.84 per share, for a total transaction of $221,000.00. Following the completion of the acquisition, the insider directly owned 35,000 shares in the company, valued at $309,400. This represents a 250.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Hedge Funds Weigh In On Bitdeer Technologies Group

Institutional investors have recently bought and sold shares of the business. Fund Resources Investment Holding Group Co Ltd grew its holdings in shares of Bitdeer Technologies Group by 3.0% during the first 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% during the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after buying an additional 2,553,093 shares in the last quarter. Situational Awareness LP lifted its position in Bitdeer Technologies Group by 92.4% during the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after buying an additional 1,651,450 shares in the last quarter. Value Aligned Research Advisors LLC grew its holdings in Bitdeer Technologies Group by 137.0% during the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock worth $36,630,000 after acquiring an additional 1,888,825 shares during the last quarter. Finally, State Street Corp grew its holdings in Bitdeer Technologies Group by 34.1% during the 4th quarter. State Street Corp now owns 3,144,782 shares of the company’s stock worth $35,253,000 after acquiring an additional 800,003 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ:BTDR opened at $10.85 on Tuesday. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80. The firm has a market capitalization of $2.47 billion, a PE ratio of -3.55 and a beta of 2.50. The business’s 50 day moving average is $11.92 and its 200-day moving average is $11.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share for the quarter. The business had revenue of $228.78 million for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. Sell-side analysts predict that Bitdeer Technologies Group will post -1.72 earnings per share 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.