Bitdeer Technologies Group (NASDAQ:BTDR) Given Buy Rating at Rosenblatt Securities

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $30.00 target price on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 134.93% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Jones Trading initiated coverage on shares of Bitdeer Technologies Group in a research report on Monday, October 6th. They set a “buy” rating and a $32.00 price objective for the company. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 20th. HC Wainwright reduced their target price on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $17.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and an average target price of $29.45.

Bitdeer Technologies Group Stock Up 4.1%

Shares of BTDR opened at $12.77 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.70 billion, a PE ratio of -2.27 and a beta of 2.33. The firm’s 50 day moving average is $12.30 and its 200-day moving average is $14.79. Bitdeer Technologies Group has a 12 month low of $6.84 and a 12 month high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). The company had revenue of $169.71 million for the quarter, compared to the consensus estimate of $151.80 million. Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.Bitdeer Technologies Group’s revenue was up 173.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.35) EPS. Equities research analysts forecast that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

A number of large investors have recently bought and sold shares of BTDR. Advisors Asset Management Inc. lifted its stake in Bitdeer Technologies Group by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after buying an additional 1,044 shares during the period. Amalgamated Bank bought a new stake in Bitdeer Technologies Group in the second quarter valued at $35,000. Tower Research Capital LLC TRC raised its holdings in shares of Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth about $105,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $159,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.