Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $17.23, but opened at $18.17. Bitdeer Technologies Group shares last traded at $17.1260, with a volume of 1,116,222 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BTDR. Citizens Jmp initiated coverage on shares of Bitdeer Technologies Group in a research report on Wednesday. They set a “market outperform” rating and a $35.00 target price on the stock. B. Riley Financial raised their price target on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Needham & Company LLC lifted their price target on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Cantor Fitzgerald upped their price objective on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Weiss Ratings raised shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.45.

Bitdeer Technologies Group Price Performance

The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. The business has a 50 day simple moving average of $14.94 and a 200-day simple moving average of $12.15. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -4.92 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The company had revenue of $188.93 million during the quarter, compared to analysts’ expectations of $184.02 million. During the same period last year, the company earned ($0.37) earnings per share. The business’s revenue for the quarter was up 169.5% compared to the same quarter last year. Equities research analysts expect that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new position in Bitdeer Technologies Group during the 4th quarter worth $34,000. Kestra Advisory Services LLC purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at about $39,000. Hollencrest Capital Management purchased a new stake in shares of Bitdeer Technologies Group in the first quarter valued at about $43,000. Leonteq Securities AG purchased a new stake in shares of Bitdeer Technologies Group in the first quarter valued at about $72,000. Finally, Royal Bank of Canada lifted its position in shares of Bitdeer Technologies Group by 80.2% during the first quarter. Royal Bank of Canada now owns 9,548 shares of the company’s stock valued at $83,000 after purchasing an additional 4,250 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.