Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down Following Analyst Downgrade

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped down before the market opened on Thursday after Cantor Fitzgerald downgraded the stock from an overweight rating to a neutral rating. The stock had previously closed at $10.36, but opened at $9.95. Cantor Fitzgerald now has a $10.00 price target on the stock. Bitdeer Technologies Group shares last traded at $10.0520, with a volume of 1,131,585 shares traded.

Several other research firms have also recently commented on BTDR. Weiss Ratings restated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $14.00 price target (down from $26.50) on shares of Bitdeer Technologies Group in a report on Tuesday, January 27th. Needham & Company LLC lowered their price target on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a report on Friday, February 13th. Benchmark lowered their price target 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. Finally, BTIG Research restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. Nine 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors have recently modified their holdings of the company. First Trust Advisors LP grew its holdings in shares of 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 purchasing an additional 878 shares during the period. Public Employees Retirement System of Ohio grew its holdings 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. grew its holdings in shares of Bitdeer Technologies Group by 1.3% during the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock worth $1,791,000 after purchasing an additional 1,307 shares during the period. Invesco Ltd. grew its holdings in shares of Bitdeer Technologies Group by 3.7% during the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock worth $806,000 after purchasing an additional 2,597 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Bitdeer Technologies Group by 17.4% during the 4th quarter. ProShare Advisors LLC now owns 18,023 shares of the company’s stock worth $202,000 after purchasing an additional 2,670 shares during the period. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Down 2.9%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. The firm has a market cap of $2.13 billion, a PE ratio of -3.18 and a beta of 2.28. The stock has a fifty day moving average price of $9.35 and a 200-day moving average price of $13.36.

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

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.