Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – What’s Next?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped up before the market opened on Thursday . The stock had previously closed at $10.67, but opened at $11.20. Bitdeer Technologies Group shares last traded at $11.6210, with a volume of 2,201,529 shares.

Wall Street Analyst Weigh In

BTDR has been the subject of a number of recent analyst reports. Barclays assumed coverage on Bitdeer Technologies Group in a research report on Thursday, August 20th. They issued an “overweight” rating and a $15.00 price objective for the company. Wall Street Zen lowered Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Zacks Research upgraded Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Bitdeer Technologies Group in a report on Thursday, August 13th. Finally, Rosenblatt Securities boosted their price target on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.00.

Bitdeer Technologies Group Trading Up 8.2%

The stock’s fifty day simple moving average is $12.34 and its 200-day simple moving average is $12.01. The firm has a market cap of $2.63 billion, a PE ratio of -3.77 and a beta of 2.50. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.01 and a quick ratio of 1.01.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. The company had revenue of $228.78 million for the quarter. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%. On average, sell-side analysts forecast that Bitdeer Technologies Group will post -1.72 earnings per share for the current year.

Insider Transactions at Bitdeer Technologies Group

In other news, insider Haris Fozan Basit purchased 25,000 shares of the stock in a transaction on Friday, August 14th. The stock was bought at an average price of $8.84 per share, with a total value of $221,000.00. Following the transaction, the insider owned 35,000 shares in the company, valued at $309,400. The trade was a 250.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael G. Potter purchased 25,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were purchased at an average price of $9.04 per share, for a total transaction of $226,000.00. Following the purchase, the chief financial officer owned 25,000 shares in the company, valued at approximately $226,000. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently bought and sold shares of the company. Empowered Funds LLC purchased a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $34,000. GAMMA Investing LLC increased its stake in shares of Bitdeer Technologies Group by 57.3% in the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after acquiring an additional 902 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Bitdeer Technologies Group during the fourth quarter worth $39,000. Hollencrest Capital Management purchased a new stake in Bitdeer Technologies Group in the first quarter valued at $43,000. Finally, FNY Investment Advisers LLC acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $66,000. Hedge funds and other 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.