Bitdeer Technologies Group $BTDR Position Cut by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 28.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,245 shares of the company’s stock after selling 48,445 shares during the quarter. Lazard Asset Management LLC owned about 0.05% of Bitdeer Technologies Group worth $1,031,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Empowered Funds LLC bought a new stake in Bitdeer Technologies Group in the 4th quarter valued at about $34,000. Kestra Advisory Services LLC acquired a new position in Bitdeer Technologies Group during the 4th quarter valued at about $39,000. Hollencrest Capital Management bought a new position in Bitdeer Technologies Group in the 1st quarter worth about $43,000. Leonteq Securities AG bought a new position in Bitdeer Technologies Group in the 1st quarter worth about $72,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Bitdeer Technologies Group by 7,157.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares during the period. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Down 2.8%

BTDR stock opened at $11.06 on Thursday. The firm’s 50-day moving average is $14.81 and its two-hundred day moving average is $12.43. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -3.21 and a beta of 2.50. Bitdeer Technologies Group has a 52 week low of $6.92 and a 52 week high of $27.80. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The company had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. During the same quarter last year, the business earned ($0.37) earnings per share. The company’s revenue was up 169.5% on a year-over-year basis. On average, analysts forecast that Bitdeer Technologies Group will post -1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BTDR has been the topic of a number of recent analyst reports. Zacks Research raised Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. B. Riley Financial increased 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. Cantor Fitzgerald upgraded Bitdeer Technologies Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $15.00 to $18.00 in a research report on Wednesday. Needham & Company LLC lifted their target price on Bitdeer Technologies Group from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. 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 report on Friday, May 15th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

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.