Bitdeer Technologies Group (NASDAQ:BTDR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $25.4545.

Several equities research analysts have commented on BTDR shares. Citizens Jmp started coverage on Bitdeer Technologies Group in a research note on Wednesday. They set a “market outperform” rating and a $35.00 price objective for the company. B. Riley Financial boosted their price objective on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Zacks Research upgraded Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Cantor Fitzgerald boosted their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Finally, Needham & Company LLC boosted their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, May 15th.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR opened at $17.52 on Thursday. Bitdeer Technologies Group has a 12 month low of $6.92 and a 12 month high of $27.80. The stock has a 50 day moving average of $15.06 and a two-hundred day moving average of $12.19. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The firm has a market cap of $4.13 billion, a P/E ratio of -5.08 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The firm had revenue of $188.93 million for the quarter, compared to analysts’ expectations of $184.02 million. During the same quarter last year, the firm posted ($0.37) earnings per share. Bitdeer Technologies Group’s quarterly revenue was up 169.5% on a year-over-year basis. On average, analysts expect that Bitdeer Technologies Group will post -1.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $6,792,000. Keystone Investors PTE Ltd. acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $7,844,000. Neo Ivy Capital Management acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $3,427,000. Value Aligned Research Advisors LLC boosted its holdings in shares of Bitdeer Technologies Group by 65.6% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,378,789 shares of the company’s stock worth $23,564,000 after purchasing an additional 546,280 shares during the last quarter. Finally, Azora Capital LP acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $23,817,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Company Profile

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.