Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 10% – Here’s Why

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price was up 10% during trading on Monday . The company traded as high as $8.47 and last traded at $8.25. Approximately 1,467,119 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 7,736,294 shares. The stock had previously closed at $7.50.

Analysts Set New Price Targets

A number of research firms have recently weighed in 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 note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. HC Wainwright lowered their price objective on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. BTIG Research restated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Finally, Rosenblatt Securities reduced their price target on shares of Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.60.

Bitdeer Technologies Group Trading Up 8.7%

The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -2.59 and a beta of 2.40. The business has a 50 day moving average of $11.07 and a 200 day moving average of $14.07.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). The company had revenue of $224.84 million for the quarter, compared to analysts’ expectations of $208.25 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The company’s revenue was up 225.8% on a year-over-year basis. On average, research analysts forecast that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its stake in Bitdeer Technologies Group by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after buying an additional 1,044 shares during the last quarter. Empowered Funds LLC purchased a new stake in Bitdeer Technologies Group in the 4th quarter valued at about $34,000. Kestra Advisory Services LLC purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter worth about $39,000. Tower Research Capital LLC TRC lifted its holdings in shares of Bitdeer Technologies Group by 7,157.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after acquiring an additional 7,157 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Bitdeer Technologies Group in the second quarter worth approximately $105,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.