Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 11.5% – Should You Buy?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) were up 11.5% on Thursday . The company traded as high as $11.40 and last traded at $11.3370. Approximately 3,149,814 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 5,978,129 shares. The stock had previously closed at $10.17.

Analyst Ratings Changes

A number of equities analysts recently commented on BTDR shares. B. Riley decreased their target price on Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Jones Trading started coverage on shares of Bitdeer Technologies Group in a report on Monday, October 6th. They issued a “buy” rating and a $32.00 price objective for the company. Cantor Fitzgerald lifted their target price on shares of Bitdeer Technologies Group from $30.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Roth Capital reissued a “buy” rating and issued a $40.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, October 15th. Finally, Rosenblatt Securities raised their price objective on shares of Bitdeer Technologies Group from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

Bitdeer Technologies Group Stock Up 1.4%

The firm has a market capitalization of $2.18 billion, a P/E ratio of -1.83 and a beta of 2.28. The company has a fifty day simple moving average of $18.69 and a 200 day simple moving average of $15.19. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.46.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The company had revenue of $169.71 million during the quarter, compared to analysts’ expectations of $151.80 million. During the same period in the prior year, the firm earned ($0.35) EPS. Bitdeer Technologies Group’s revenue for the quarter was up 173.7% compared to the same quarter last year. On average, equities analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. purchased a new position in shares of Bitdeer Technologies Group in the first quarter worth $2,491,000. KLP Kapitalforvaltning AS increased its holdings in Bitdeer Technologies Group by 111.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 16,700 shares of the company’s stock worth $147,000 after buying an additional 8,800 shares in the last quarter. Phoenix Financial Ltd. raised its position in Bitdeer Technologies Group by 47.9% in the 1st quarter. Phoenix Financial Ltd. now owns 24,269 shares of the company’s stock worth $215,000 after buying an additional 7,863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bitdeer Technologies Group by 182.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,012 shares of the company’s stock valued at $274,000 after acquiring an additional 20,030 shares during the period. Finally, Blueshift Asset Management LLC bought a new position in Bitdeer Technologies Group during the 1st quarter valued at about $342,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.