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

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

Wall Street Analyst Weigh In

BTDR has been the subject of several research analyst reports. Benchmark decreased their price objective on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Cantor Fitzgerald decreased their price target on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 16th. 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 report on Thursday, February 12th. Finally, UBS Group restated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Thursday, February 12th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus 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 fifty day moving average price of $11.07 and a 200-day moving average price of $14.07. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -2.59 and a beta of 2.40.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings 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 valued at $30,000 after purchasing an additional 1,044 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $39,000. Tower Research Capital LLC TRC grew its holdings in Bitdeer Technologies Group by 7,157.0% during the second 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 position in Bitdeer Technologies Group during the second quarter worth $105,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.