Bitdeer Technologies Group (NASDAQ:BTDR) Insider Haris Fozan Basit Buys 25,000 Shares

Bitdeer Technologies Group (NASDAQ:BTDR) insider Haris Fozan Basit bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $8.84 per share, for a total transaction of $221,000.00. Following the completion of the transaction, the insider directly owned 35,000 shares in the company, valued at approximately $309,400. This trade represents a 250.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock opened at $9.39 on Tuesday. The business’s fifty day moving average price is $13.34 and its 200 day moving average price is $12.13. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $2.14 billion, a P/E ratio of -3.07 and a beta of 2.50.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. The firm had revenue of $228.78 million for the quarter. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%. As a group, research analysts anticipate that Bitdeer Technologies Group will post -1.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Bitdeer Technologies Group in a research report on Thursday. Rosenblatt Securities upped their price target 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, May 15th. Needham & Company LLC lowered their price target on Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. B. Riley Financial cut their price objective on Bitdeer Technologies Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Finally, Citizens Jmp assumed coverage on Bitdeer Technologies Group in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $35.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bitdeer Technologies Group has an average rating of “Moderate Buy” and a consensus target price of $24.82.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in Bitdeer Technologies Group by 167.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock worth $4,265,000 after acquiring an additional 302,548 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Bitdeer Technologies Group by 39.0% in the 2nd quarter. Legal & General Group Plc now owns 73,541 shares of the company’s stock valued at $844,000 after purchasing an additional 20,640 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at about $326,000. Invesco Ltd. lifted its position in shares of Bitdeer Technologies Group by 169.0% during the second quarter. Invesco Ltd. now owns 71,822 shares of the company’s stock worth $825,000 after purchasing an additional 45,120 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Bitdeer Technologies Group during the second quarter worth about $1,558,000. 22.25% of the stock is currently 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.