Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Up 17.4% – What’s Next?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) were up 17.4% during trading on Thursday . The company traded as high as $10.76 and last traded at $10.4480. Approximately 2,671,397 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 8,587,749 shares. The stock had previously closed at $8.90.

Analyst Ratings Changes

A number of equities analysts have weighed in on BTDR shares. Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Rosenblatt Securities raised their price target on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods cut their price objective on shares of Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating on the stock in a report on Tuesday. B. Riley Financial lifted their target price on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Cantor Fitzgerald lifted their price target on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.45.

Bitdeer Technologies Group Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88. The company has a 50 day simple moving average of $15.20 and a 200-day simple moving average of $12.50. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -3.20 and a beta of 2.47.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.21). The firm had revenue of $188.93 million during the quarter, compared to analyst estimates of $184.02 million. Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.Bitdeer Technologies Group’s revenue was up 169.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.37) EPS. As a group, research analysts anticipate that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently bought and sold shares of the business. First Trust Advisors LP grew its holdings in shares of Bitdeer Technologies Group by 2.2% during the third quarter. First Trust Advisors LP now owns 40,138 shares of the company’s stock valued at $686,000 after purchasing an additional 878 shares during the last quarter. GAMMA Investing LLC lifted its stake in Bitdeer Technologies Group by 57.3% in the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock valued at $39,000 after buying an additional 902 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Bitdeer Technologies Group by 5.6% during the third quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock worth $355,000 after acquiring an additional 1,100 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Bitdeer Technologies Group by 1.3% during the third quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock worth $1,791,000 after acquiring an additional 1,307 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Bitdeer Technologies Group by 3.7% in the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock valued at $806,000 after purchasing an additional 2,597 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

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.