Bitdeer Technologies Group (NASDAQ:BTDR) Given New $23.00 Price Target at B. Riley Financial

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target hoisted by stock analysts at B. Riley Financial from $22.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s price objective indicates a potential upside of 75.14% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. HC Wainwright cut their target price on shares of 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. Cantor Fitzgerald boosted their target price on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday. Zacks Research lowered shares of Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Benchmark cut their target price on shares of 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. Finally, Rosenblatt Securities boosted their target price on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Bitdeer Technologies Group Stock Down 11.0%

NASDAQ:BTDR traded down $1.62 during trading hours on Friday, reaching $13.13. The company’s stock had a trading volume of 4,238,796 shares, compared to its average volume of 7,615,929. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -4.18 and a beta of 2.32. Bitdeer Technologies Group has a one year low of $6.92 and a one year high of $27.80. The business’s 50-day moving average is $10.36 and its 200-day moving average is $11.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.75.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results 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 firm had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.75 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The firm’s revenue was up 169.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.37) EPS. Equities research analysts predict that Bitdeer Technologies Group will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Waverly Advisors LLC acquired a new position in shares of Bitdeer Technologies Group during the first quarter valued at about $87,000. Entropy Technologies LP raised its position in shares of Bitdeer Technologies Group by 770.8% during the first quarter. Entropy Technologies LP now owns 97,488 shares of the company’s stock valued at $843,000 after buying an additional 86,293 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Bitdeer Technologies Group during the first quarter valued at about $2,048,000. Bank of Nova Scotia raised its position in Bitdeer Technologies Group by 91.1% in the first quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock worth $11,846,000 after purchasing an additional 652,874 shares in the last quarter. Finally, Sei Investments Co. raised its position in Bitdeer Technologies Group by 159.5% in the first quarter. Sei Investments Co. now owns 64,334 shares of the company’s stock worth $556,000 after purchasing an additional 39,539 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

Key Bitdeer Technologies Group News

Here are the key news stories impacting Bitdeer Technologies Group this week:

• Positive Sentiment: Needham raised its price target on Bitdeer Technologies Group (BTDR) to $19 from $18 and kept a buy rating, signaling continued confidence in the company’s growth outlook.
• Positive Sentiment: Rosenblatt Securities lifted its target to $25 from $18 and reiterated a buy rating, pointing to much higher upside potential after the Q1 update.
• Positive Sentiment: Cantor Fitzgerald increased its target to $15 from $11, maintaining a neutral rating, reflecting improved expectations even though the stock still faces execution risks.
• Neutral Sentiment: Market commentary highlighted record Bitcoin mining-related activity and strong revenue growth, but also noted cost pressures and an earnings miss that keep sentiment mixed.
• Negative Sentiment: Bitdeer’s Q1 loss was wider than expected, which may limit enthusiasm until the company shows clearer progress toward sustained profitability.

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.