Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 9.1% – Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shot up 9.1% during mid-day trading on Wednesday . The stock traded as high as $8.20 and last traded at $8.2470. 3,461,629 shares changed hands during trading, a decline of 56% from the average session volume of 7,867,432 shares. The stock had previously closed at $7.56.

Wall Street Analysts Forecast Growth

BTDR has been the subject of several research reports. Benchmark decreased their target price on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Cantor Fitzgerald dropped their price objective on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $14.00 price objective (down from $26.50) on shares of Bitdeer Technologies Group in a report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Finally, HC Wainwright reduced their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.60.

Bitdeer Technologies Group Stock Performance

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 stock has a market capitalization of $1.71 billion, a P/E ratio of -2.58 and a beta of 2.40. The business has a fifty day moving average price of $11.64 and a 200-day moving average price of $14.39.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.59). The business had revenue of $224.84 million during the quarter, compared to the consensus estimate 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 for the quarter was up 225.8% on a year-over-year basis. On average, sell-side analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its holdings in shares of Bitdeer Technologies Group by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after buying an additional 1,044 shares during the period. Amalgamated Bank purchased a new stake in Bitdeer Technologies Group during the second quarter valued at $35,000. Empowered Funds LLC bought a new position in Bitdeer Technologies Group in the fourth quarter valued at about $34,000. Kestra Advisory Services LLC bought a new position in Bitdeer Technologies Group in the fourth quarter valued at about $39,000. Finally, Tower Research Capital LLC TRC boosted its position in 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 worth $83,000 after purchasing an additional 7,157 shares during the last quarter. Institutional investors 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.