Bitdeer Technologies Group (NASDAQ:BTDR) Receives Consensus Rating of “Moderate Buy” from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR) has been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $25.5455.

A number of equities analysts have recently issued reports on BTDR shares. Needham & Company LLC raised 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 report on Tuesday. Benchmark decreased their price target on shares of Bitdeer Technologies Group from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday. Rosenblatt Securities raised their price objective on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Citizens Jmp assumed coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price objective on the stock. Finally, Wall Street Zen cut shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Bitdeer Technologies Group by 167.6% during the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock worth $4,265,000 after purchasing an additional 302,548 shares during the period. Legal & General Group Plc increased its stake in Bitdeer Technologies Group by 39.0% in the 2nd quarter. Legal & General Group Plc now owns 73,541 shares of the company’s stock valued at $844,000 after buying an additional 20,640 shares during the period. New York State Common Retirement Fund acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at $326,000. Invesco Ltd. raised its position in Bitdeer Technologies Group by 169.0% during the 2nd quarter. Invesco Ltd. now owns 71,822 shares of the company’s stock worth $825,000 after buying an additional 45,120 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Bitdeer Technologies Group during the 2nd quarter worth $1,558,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $10.52 on Friday. The stock’s 50-day moving average is $14.65 and its two-hundred day moving average is $12.39. 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. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -3.05 and a beta of 2.50.

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

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.