Bitdeer Technologies Group (NASDAQ:BTDR) Given New $18.00 Price Target at Rosenblatt Securities

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target decreased by equities researchers at Rosenblatt Securities from $30.00 to $18.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price indicates a potential upside of 42.97% from the stock’s previous close.

A number of other research analysts have also recently commented on BTDR. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $14.00 target price (down previously from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Monday, October 20th. Roth Mkm reiterated a “buy” rating and set a $40.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, October 15th. B. Riley Financial lowered their target price on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Finally, Needham & Company LLC raised their price target on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and a consensus target price of $27.60.

Bitdeer Technologies Group Price Performance

BTDR stock opened at $12.59 on Monday. The stock has a market cap of $2.67 billion, a PE ratio of -2.24 and a beta of 2.33. Bitdeer Technologies Group has a 12 month low of $6.84 and a 12 month high of $27.80. The company has a 50-day moving average price of $12.34 and a 200 day moving average price of $14.87. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

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

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds have recently added to or reduced their stakes in BTDR. Handelsbanken Fonder AB purchased a new position in Bitdeer Technologies Group during the 4th quarter valued at about $262,000. ProShare Advisors LLC boosted its stake in shares of Bitdeer Technologies Group by 17.4% during the fourth quarter. ProShare Advisors LLC now owns 18,023 shares of the company’s stock valued at $202,000 after purchasing an additional 2,670 shares in the last quarter. Phoenix Financial Ltd. bought a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $227,000. Fund Resources Investment Holding Group Co Ltd purchased a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $102,732,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Bitdeer Technologies Group by 47.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,427 shares of the company’s stock worth $317,000 after buying an additional 8,801 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.