Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Up 12% – Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) was up 12% during trading on Tuesday . The company traded as high as $8.88 and last traded at $8.8260. Approximately 3,005,916 shares were traded during trading, a decline of 62% from the average daily volume of 7,959,883 shares. The stock had previously closed at $7.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BTDR shares. BTIG Research restated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. HC Wainwright lowered their price target on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Rosenblatt Securities restated a “buy” rating and set a $18.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, March 18th. UBS Group reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Finally, Benchmark lowered their target price on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.60.

Bitdeer Technologies Group Stock Performance

The business’s fifty day moving average price is $9.80 and its 200-day moving average price is $13.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.75. The stock has a market capitalization of $1.98 billion, a PE ratio of -2.97 and a beta of 2.28.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share 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 the consensus estimate of $208.25 million. The firm’s revenue was up 225.8% on a year-over-year basis. As a group, equities research analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds have recently bought and sold shares of BTDR. Fund Resources Investment Holding Group Co Ltd bought a new position in shares of Bitdeer Technologies Group in the 4th quarter worth $102,732,000. Bank of America Corp DE grew its position in Bitdeer Technologies Group by 67.5% in the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after acquiring an additional 2,553,093 shares in the last quarter. Value Aligned Research Advisors LLC increased its stake in Bitdeer Technologies Group by 137.0% in the fourth quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after acquiring an additional 1,888,825 shares during the last quarter. Azora Capital LP purchased a new stake in Bitdeer Technologies Group during the third quarter valued at about $23,817,000. Finally, Situational Awareness LP raised its position in Bitdeer Technologies Group by 92.3% during the fourth quarter. Situational Awareness LP now owns 1,788,000 shares of the company’s stock valued at $20,043,000 after purchasing an additional 858,400 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

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.