Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 8.4% – Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price shot up 8.4% during mid-day trading on Monday . The stock traded as high as $8.80 and last traded at $8.7910. 1,170,417 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 7,941,314 shares. The stock had previously closed at $8.11.

Analyst Ratings Changes

Several research firms have recently weighed in on BTDR. Benchmark cut their price objective on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Cantor Fitzgerald lowered their target price on Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. UBS Group reiterated a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Finally, Zacks Research downgraded shares of Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.60.

Bitdeer Technologies Group Stock Down 4.6%

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.75. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -2.62 and a beta of 2.40. The firm has a 50-day moving average price of $10.58 and a two-hundred day moving average price of $13.83.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). The firm had revenue of $224.84 million during the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. Bitdeer Technologies Group’s revenue was up 225.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its position in shares of Bitdeer Technologies Group by 3.7% in the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock worth $806,000 after purchasing an additional 2,597 shares in the last quarter. Vident Advisory LLC grew its position in Bitdeer Technologies Group by 39.3% in the fourth quarter. Vident Advisory LLC now owns 1,186,662 shares of the company’s stock valued at $13,302,000 after purchasing an additional 334,548 shares in the last quarter. Empowered Funds LLC acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at $34,000. Vennlight Capital Management LP acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at $1,030,000. Finally, Engineers Gate Manager LP bought a new stake in Bitdeer Technologies Group during the 4th quarter worth about $604,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.