Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $19.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective increased by Needham & Company LLC from $18.00 to $19.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 28.81% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. BTIG Research reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. Benchmark reduced their target price on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Cantor Fitzgerald downgraded shares of Bitdeer Technologies Group from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $10.00 in a research report on Thursday, April 9th. Finally, UBS Group restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ:BTDR opened at $14.75 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. Bitdeer Technologies Group has a 52 week low of $6.92 and a 52 week high of $27.80. The firm has a market cap of $3.47 billion, a PE ratio of -4.70 and a beta of 2.32. The firm’s fifty day moving average is $10.36 and its 200-day moving average is $11.99.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). The company had revenue of $188.93 million during the quarter, compared to analyst estimates of $184.75 million. Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The business’s revenue for the quarter was up 169.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.37) earnings per share. Sell-side analysts predict that Bitdeer Technologies Group will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BTDR. First Trust Advisors LP boosted its holdings in Bitdeer Technologies Group by 2.2% during the 3rd quarter. First Trust Advisors LP now owns 40,138 shares of the company’s stock worth $686,000 after acquiring an additional 878 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Bitdeer Technologies Group by 5.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock worth $355,000 after purchasing an additional 1,100 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Bitdeer Technologies Group by 1.3% in the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock worth $1,791,000 after buying an additional 1,307 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Bitdeer Technologies Group by 3.7% in the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock worth $806,000 after buying an additional 2,597 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Bitdeer Technologies Group by 17.4% during the fourth quarter. ProShare Advisors LLC now owns 18,023 shares of the company’s stock valued at $202,000 after buying an additional 2,670 shares during the period. 22.25% of the stock is owned by 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.