Bitdeer Technologies Group (NASDAQ:BTDR) Cut to Neutral at Cantor Fitzgerald

Bitdeer Technologies Group (NASDAQ:BTDR) was downgraded by research analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a report released on Thursday. They currently have a $10.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 3.47% from the stock’s previous close.

Several other research firms have also commented on BTDR. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $14.00 price target (down from $26.50) on shares of Bitdeer Technologies Group in a research report on Tuesday, January 27th. BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. Needham & Company LLC dropped their price target on shares of Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Benchmark dropped their price target on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, HC Wainwright lowered their price target on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.20.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $10.36 on Thursday. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80. The company has a market cap of $2.19 billion, a P/E ratio of -3.30 and a beta of 2.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.75. The stock’s fifty day moving average price is $9.35 and its 200-day moving average price is $13.36.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly 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 net margin of 10.58% and a return on equity of 8.92%. The business had revenue of $224.84 million for the quarter, compared to analysts’ expectations of $208.25 million. The firm’s quarterly revenue was up 225.8% on a year-over-year basis. On average, equities analysts forecast that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP grew its stake in 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 acquiring an additional 878 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in 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 valued at $355,000 after purchasing an additional 1,100 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Bitdeer Technologies Group by 1.3% in the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock worth $1,791,000 after buying an additional 1,307 shares in the last quarter. Invesco Ltd. raised its position in shares of Bitdeer Technologies Group by 3.7% during the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock valued at $806,000 after buying an additional 2,597 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Bitdeer Technologies Group by 17.4% during the fourth quarter. ProShare Advisors LLC now owns 18,023 shares of the company’s stock worth $202,000 after acquiring an additional 2,670 shares during 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.