Bitdeer Technologies Group (NASDAQ:BTDR) Upgraded at Cantor Fitzgerald

Bitdeer Technologies Group (NASDAQ:BTDR) was upgraded by equities research analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $18.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 58.17% from the company’s current price.

A number of other research firms have also recently commented on BTDR. Needham & Company LLC boosted their target price on shares of Bitdeer Technologies Group from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley Financial lifted their price objective on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Wall Street Zen cut Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Finally, Zacks Research raised Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock opened at $11.38 on Wednesday. The stock has a market capitalization of $2.68 billion, a P/E ratio of -3.30 and a beta of 2.50. The company’s fifty day moving average price is $14.90 and its 200 day moving average price is $12.46. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. Bitdeer Technologies Group has a 1 year low of $6.92 and a 1 year high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). The company had revenue of $188.93 million for 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%.The business’s revenue was up 169.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.37) earnings per share. As a group, equities research analysts anticipate that Bitdeer Technologies Group will post -1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently modified their holdings of the business. Situational Awareness LP boosted its position in Bitdeer Technologies Group by 92.4% during the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after acquiring an additional 1,651,450 shares during the last quarter. Bank of Nova Scotia raised its holdings in Bitdeer Technologies Group by 91.1% in the 1st quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock valued at $11,846,000 after acquiring an additional 652,874 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Bitdeer Technologies Group in the 3rd quarter worth approximately $6,792,000. Fund Resources Investment Holding Group Co Ltd acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $102,732,000. Finally, UBS Group AG grew its position in shares of Bitdeer Technologies Group by 2.4% in the fourth quarter. UBS Group AG now owns 2,246,381 shares of the company’s stock valued at $25,182,000 after purchasing an additional 52,808 shares in the last quarter. 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.