Bitdeer Technologies Group (NASDAQ:BTDR) Shares Climb 9.3% – Should You Buy?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) rose 9.3% during trading on Wednesday. The stock traded as high as $7.01 and last traded at $7.0040. Approximately 1,149,782 shares changed hands during trading, a decline of 88% from the average session volume of 9,733,580 shares. The stock had previously closed at $6.41.

Bitdeer Technologies Group News Roundup

Here’s some of the latest news about BTDR:

• Neutral Sentiment: Barclays and Needham lowered their price targets to $14 and $18, respectively, but kept their positive ratings: “overweight” and “buy.” Bitdeer analyst coverage
• Negative Sentiment: Bitdeer posted a third-quarter loss of $0.46 per share, wider than the $0.33 loss analysts expected. The earnings shortfall has been associated with shares coming under pressure despite the revenue growth. Bitdeer shares and Q3 results
• Negative Sentiment: Northland Securities cut its EPS estimates for Q3, Q4 and full-year 2026, now projecting a $1.86 full-year loss per share versus its previous $1.54 loss estimate. The lower forecasts add to concerns about the path to profitability.

Wall Street Analysts Forecast Growth

BTDR has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bitdeer Technologies Group in a report on Monday, October 26th. Weiss Ratings lowered shares of Bitdeer Technologies Group from a “hold (c-)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods reduced their target price on Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating for the company in a report on Thursday, August 13th. Finally, B. Riley Financial decreased their price target on Bitdeer Technologies Group from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and an average price target of $21.10.

Bitdeer Technologies Group Price Performance

The stock has a market capitalization of $1.39 billion, a PE ratio of -2.74 and a beta of 2.72. The firm’s fifty day moving average price is $9.46 and its two-hundred day moving average price is $11.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.13). The firm had revenue of $320.75 million for the quarter, compared to the consensus estimate of $258.18 million. Bitdeer Technologies Group had a negative net margin of 31.84% and a negative return on equity of 34.08%. The company’s revenue for the quarter was up 89.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.28) earnings per share. On average, equities analysts predict that Bitdeer Technologies Group will post -1.78 earnings per share for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Bitdeer Technologies Group by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after acquiring an additional 902 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Bitdeer Technologies Group by 3.4% during the 3rd quarter. First Trust Advisors LP now owns 55,373 shares of the company’s stock valued at $581,000 after acquiring an additional 1,836 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Bitdeer Technologies Group by 80.7% in the third quarter. SBI Securities Co. Ltd. now owns 4,621 shares of the company’s stock valued at $48,000 after purchasing an additional 2,064 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Bitdeer Technologies Group by 9.5% in the first quarter. The Manufacturers Life Insurance Company now owns 33,940 shares of the company’s stock valued at $294,000 after purchasing an additional 2,950 shares in the last quarter. Finally, Activest Wealth Management grew its holdings in shares of Bitdeer Technologies Group by 150.0% in the third quarter. Activest Wealth Management now owns 5,000 shares of the company’s stock valued at $52,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. Its business includes operating mining data centers, mining digital assets for its own account, and providing hosting services that allow customers to deploy and operate mining equipment. The company also develops and sells cryptocurrency mining machines and offers cloud hash rate services, which provide customers access to computing capacity for mining without requiring them to operate the equipment themselves.