Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Here’s What Happened

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $17.23, but opened at $18.17. Bitdeer Technologies Group shares last traded at $17.1260, with a volume of 1,116,222 shares trading hands.

Analyst Ratings Changes

BTDR has been the subject of several recent research reports. B. Riley Financial increased their price target on Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 15th. Citizens Jmp started coverage on shares of Bitdeer Technologies Group in a report on Wednesday. They issued a “market outperform” rating and a $35.00 price target on the stock. Needham & Company LLC increased their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Rosenblatt Securities raised 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. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, May 20th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

Bitdeer Technologies Group Stock Down 6.4%

The company has a debt-to-equity ratio of 1.88, a current ratio of 1.85 and a quick ratio of 1.11. The firm has a market capitalization of $3.86 billion, a P/E ratio of -4.75 and a beta of 2.45. The firm’s fifty day moving average price is $15.15 and its 200-day moving average price is $12.22.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.21). The firm had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.Bitdeer Technologies Group’s revenue for the quarter was up 169.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.37) EPS. As a group, equities research analysts forecast that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Fund Resources Investment Holding Group Co Ltd lifted its stake in Bitdeer Technologies Group by 3.0% during the first quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock valued at $81,660,000 after buying an additional 276,098 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Bitdeer Technologies Group by 67.5% during the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after buying an additional 2,553,093 shares during the period. Situational Awareness LP boosted its position in Bitdeer Technologies Group by 92.4% during the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock valued at $29,751,000 after purchasing an additional 1,651,450 shares during the last quarter. Value Aligned Research Advisors LLC grew its stake in shares of Bitdeer Technologies Group by 137.0% in the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after buying an additional 1,888,825 shares in the last quarter. Finally, State Street Corp grew its position in Bitdeer Technologies Group by 34.1% in the fourth quarter. State Street Corp now owns 3,144,782 shares of the company’s stock worth $35,253,000 after acquiring an additional 800,003 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.