Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Up 9.1% – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price traded up 9.1% on Wednesday . The stock traded as high as $8.20 and last traded at $8.2470. 3,461,629 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 7,867,432 shares. The stock had previously closed at $7.56.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BTDR shares. BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. B. Riley Financial decreased their target price on Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Needham & Company LLC cut their price target on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a report on Friday, February 13th. Cantor Fitzgerald decreased their price objective on Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Finally, HC Wainwright cut their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.60.

Bitdeer Technologies Group Stock Up 7.1%

The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $11.64 and a two-hundred day simple moving average of $14.39. The firm has a market capitalization of $1.71 billion, a P/E ratio of -2.58 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.59). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The company had revenue of $224.84 million during the quarter, compared to analysts’ expectations of $208.25 million. Bitdeer Technologies Group’s revenue was up 225.8% compared to the same quarter last year. On average, equities analysts predict that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BTDR. Goldman Sachs Group Inc. lifted its position in shares of Bitdeer Technologies Group by 167.6% in the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock worth $4,265,000 after buying an additional 302,548 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at approximately $129,000. Amalgamated Bank purchased a new position in shares of Bitdeer Technologies Group in the second quarter valued at $35,000. Harvest Portfolios Group Inc. increased its position in Bitdeer Technologies Group by 76.3% in the second quarter. Harvest Portfolios Group Inc. now owns 64,469 shares of the company’s stock worth $740,000 after purchasing an additional 27,891 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Bitdeer Technologies Group during the second quarter valued at $207,000. 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.