Bitdeer Technologies Group (NASDAQ:BTDR) Raised to Hold at Zacks Research

Bitdeer Technologies Group (NASDAQ:BTDR) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Benchmark lowered their price objective on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, May 20th. Rosenblatt Securities raised their price objective on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Cantor Fitzgerald raised their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock opened at $19.71 on Tuesday. The stock has a 50 day moving average of $12.52 and a 200 day moving average of $11.54. Bitdeer Technologies Group has a 12 month low of $6.92 and a 12 month high of $27.80. The firm has a market cap of $4.64 billion, a PE ratio of -5.71 and a beta of 2.45. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88.

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

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fund Resources Investment Holding Group Co Ltd raised its holdings in shares of Bitdeer Technologies Group by 3.0% in the first quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock worth $81,660,000 after buying an additional 276,098 shares during the period. Bank of America Corp DE increased its holdings in 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 worth $72,753,000 after purchasing an additional 2,553,093 shares during the period. Situational Awareness LP increased its holdings in Bitdeer Technologies Group by 92.4% during the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after purchasing an additional 1,651,450 shares during the period. Value Aligned Research Advisors LLC increased its holdings in Bitdeer Technologies Group by 137.0% during the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock worth $36,630,000 after purchasing an additional 1,888,825 shares during the period. Finally, State Street Corp increased its holdings in Bitdeer Technologies Group by 34.1% during the 4th quarter. State Street Corp now owns 3,144,782 shares of the company’s stock worth $35,253,000 after purchasing an additional 800,003 shares during the period. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.