Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $21.00 at B. Riley Financial

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price decreased by research analysts at B. Riley Financial from $23.00 to $21.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price target indicates a potential upside of 132.82% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods lowered their price target on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating for the company in a report on Tuesday, July 28th. Rosenblatt Securities raised their target price on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Citizens Jmp assumed coverage on Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price objective for the company. Needham & Company LLC lowered their price target on Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and an average target price of $25.18.

Bitdeer Technologies Group Price Performance

BTDR opened at $9.02 on Thursday. The company has a 50-day moving average of $13.91 and a 200-day moving average of $12.24. The company has a market capitalization of $2.12 billion, a P/E ratio of -2.95 and a beta of 2.50. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80. 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 (NASDAQ:BTDR) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. The company had revenue of $228.78 million for the quarter. Bitdeer Technologies Group had a negative return on equity of 61.88% and a negative net margin of 55.15%. Equities analysts expect that Bitdeer Technologies Group will post -1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bitdeer Technologies Group news, CFO Michael G. Potter acquired 25,000 shares of Bitdeer Technologies Group stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $9.04 per share, with a total value of $226,000.00. Following the purchase, the chief financial officer owned 25,000 shares in the company, valued at approximately $226,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of large investors have recently made changes to their positions in the business. Fund Resources Investment Holding Group Co Ltd purchased a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $102,732,000. Bank of America Corp DE lifted its position in Bitdeer Technologies Group by 1,366.7% in the 1st quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock worth $27,919,000 after buying an additional 3,007,523 shares in the last quarter. Value Aligned Research Advisors LLC boosted its stake in shares of Bitdeer Technologies Group by 137.0% during the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after buying an additional 1,888,825 shares during the period. Situational Awareness LP grew its holdings in shares of Bitdeer Technologies Group by 92.4% during the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock valued at $29,751,000 after acquiring an additional 1,651,450 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Bitdeer Technologies Group by 100.1% in the fourth quarter. Van ECK Associates Corp now owns 1,694,193 shares of the company’s stock worth $18,992,000 after acquiring an additional 847,486 shares during the last quarter. 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.