Bitdeer Technologies Group (BTDR) – What Are Analysts Saying About This Stock?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $21.10.

A number of research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Tuesday, August 11th. Barclays decreased their price objective on shares of Bitdeer Technologies Group from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $25.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, September 15th. Needham & Company LLC reduced their target price on shares of Bitdeer Technologies Group from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Weiss Ratings lowered Bitdeer Technologies Group from a “hold (c-)” rating to a “sell (d-)” rating in a report on Friday, October 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BTDR. GAMMA Investing LLC boosted its position in Bitdeer Technologies Group by 57.3% in the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock valued at $39,000 after buying an additional 902 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Bitdeer Technologies Group in the 1st quarter valued at $43,000. SBI Securities Co. Ltd. boosted its holdings in shares of Bitdeer Technologies Group by 80.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,621 shares of the company’s stock valued at $48,000 after acquiring an additional 2,064 shares in the last quarter. Activest Wealth Management boosted its holdings in shares of Bitdeer Technologies Group by 150.0% during the 3rd quarter. Activest Wealth Management now owns 5,000 shares of the company’s stock valued at $52,000 after acquiring an additional 3,000 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in shares of Bitdeer Technologies Group by 467.5% during the 3rd quarter. CoreCap Advisors LLC now owns 5,675 shares of the company’s stock valued at $60,000 after acquiring an additional 4,675 shares in the last quarter. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Down 8.6%

BTDR traded down $0.53 during mid-day trading on Friday, hitting $5.60. The stock had a trading volume of 11,090,505 shares, compared to its average volume of 10,950,614. The stock’s fifty day simple moving average is $9.33 and its 200-day simple moving average is $11.31. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.82 and a quick ratio of 1.01. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.50 and a beta of 2.72. Bitdeer Technologies Group has a 1-year low of $5.03 and a 1-year high of $20.72.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Tuesday, November 10th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.13). Bitdeer Technologies Group had a negative return on equity of 32.77% and a negative net margin of 31.84%. The company had revenue of $320.75 million for the quarter, compared to analyst estimates of $258.18 million. During the same quarter last year, the business posted ($1.28) earnings per share. The business’s quarterly revenue was up 89.0% on a year-over-year basis. As a group, research analysts forecast that Bitdeer Technologies Group will post -1.78 EPS for the current fiscal year.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. Its business includes operating mining data centers, mining digital assets for its own account, and providing hosting services that allow customers to deploy and operate mining equipment. The company also develops and sells cryptocurrency mining machines and offers cloud hash rate services, which provide customers access to computing capacity for mining without requiring them to operate the equipment themselves.