Bitdeer Technologies Group (NASDAQ:BTDR) Raised to “Strong-Buy” at Barclays

Bitdeer Technologies Group (NASDAQ:BTDR) was upgraded by research analysts at Barclays to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. B. Riley Financial lowered their price objective on shares of Bitdeer Technologies Group from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bitdeer Technologies Group in a research report on Thursday, August 13th. Needham & Company LLC decreased their price target on Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Zacks Research upgraded Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Wall Street Zen cut Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Bitdeer Technologies Group Trading Up 8.3%

Shares of BTDR stock opened at $10.43 on Thursday. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80. The firm has a market cap of $2.37 billion, a PE ratio of -3.41 and a beta of 2.50. The company has a 50-day moving average of $12.90 and a two-hundred day moving average of $12.05. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.01 and a quick ratio of 1.01.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. The company had revenue of $228.78 million during the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. On average, analysts predict that Bitdeer Technologies Group will post -1.54 EPS for the current year.

Insider Activity

In other Bitdeer Technologies Group news, insider Haris Fozan Basit purchased 25,000 shares of Bitdeer Technologies Group stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $8.84 per share, with a total value of $221,000.00. Following the completion of the transaction, the insider owned 35,000 shares of the company’s stock, valued at $309,400. This trade represents a 250.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael G. Potter acquired 25,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $9.04 per share, with a total value of $226,000.00. Following the purchase, the chief financial officer owned 25,000 shares of the company’s stock, valued at approximately $226,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Bitdeer Technologies Group by 57.3% in the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after acquiring an additional 902 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $34,000. Kestra Advisory Services LLC acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at $39,000. FNY Investment Advisers LLC acquired a new stake in shares of Bitdeer Technologies Group in the second quarter valued at $66,000. Finally, Hollencrest Capital Management purchased a new position in Bitdeer Technologies Group in the first quarter valued at $43,000. Hedge funds and other institutional investors 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.