Bitdeer Technologies Group (NASDAQ:BTDR) Receives $26.60 Average Price Target from Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $26.60.

A number of analysts have recently weighed in on BTDR shares. Needham & Company LLC dropped their target price on shares of Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a report on Friday, February 13th. UBS Group restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Cantor Fitzgerald lowered their price target on Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $14.00 price objective (down from $26.50) on shares of Bitdeer Technologies Group in a research report on Tuesday, January 27th.

Institutional Trading of Bitdeer Technologies Group

Several large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its holdings in Bitdeer Technologies Group by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after purchasing an additional 1,044 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $34,000. Kestra Advisory Services LLC bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $39,000. Tower Research Capital LLC TRC increased its position in shares of Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after buying an additional 7,157 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Bitdeer Technologies Group during the second quarter valued at about $105,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Down 6.5%

Shares of NASDAQ BTDR opened at $7.34 on Tuesday. The firm’s fifty day moving average is $11.15 and its 200 day moving average is $14.10. Bitdeer Technologies Group has a 52 week low of $6.84 and a 52 week high of $27.80. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -2.34 and a beta of 2.40.

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

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.