Bitdeer Technologies Group (NASDAQ:BTDR) Given New $14.00 Price Target at Barclays

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price dropped by analysts at Barclays from $17.00 to $14.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 102.11% from the company’s current price.

Other research analysts also recently issued reports about the stock. B. Riley Financial reduced their price objective on shares of Bitdeer Technologies Group from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Keefe, Bruyette & Woods dropped their target price on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, August 13th. Needham & Company LLC cut their target price on shares of Bitdeer Technologies Group from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 26th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bitdeer Technologies Group presently has an average rating of “Moderate Buy” and an average price target of $21.10.

Bitdeer Technologies Group Trading Up 8.1%

NASDAQ:BTDR traded up $0.52 on Wednesday, hitting $6.93. 1,316,916 shares of the stock were exchanged, compared to its average volume of 9,733,580. The stock has a fifty day moving average of $9.62 and a 200-day moving average of $11.43. The stock has a market cap of $1.58 billion, a PE ratio of -2.28 and a beta of 2.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20. Bitdeer Technologies Group has a fifty-two week low of $5.03 and a fifty-two week high of $20.72.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Tuesday, November 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.13). Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%. The company had revenue of $320.75 million during the quarter, compared to analysts’ expectations of $258.18 million. During the same period in the previous year, the company earned ($1.28) EPS. Bitdeer Technologies Group’s quarterly revenue was up 89.0% on a year-over-year basis. As a group, equities analysts expect that Bitdeer Technologies Group will post -1.68 earnings per share for the current fiscal year.

Insider Transactions at Bitdeer Technologies Group

In other Bitdeer Technologies Group news, insider Haris Basit purchased 25,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $8.84 per share, with a total value of $221,000.00. Following the completion of the purchase, the insider owned 35,000 shares in the company, valued at $309,400. This trade represents a 250.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $22,029,000. Russell Investments Group Ltd. raised its position in shares of Bitdeer Technologies Group by 44.6% during the third quarter. Russell Investments Group Ltd. now owns 149,830 shares of the company’s stock worth $1,572,000 after purchasing an additional 46,224 shares during the period. Fund Resources Investment Holding Group Co Ltd acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth $8,353,000. Funde Sino Life Insurance Co Ltd acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth $109,795,000. Finally, CenterBook Partners LP purchased a new stake in shares of Bitdeer Technologies Group during the third quarter valued at $397,000. Institutional investors own 22.25% of the company’s stock.

Key Headlines Impacting Bitdeer Technologies Group

Here are a few of the latest headlines about BTDR:

• Positive Sentiment: The company said infrastructure capital spending is targeted at or below $200 million and Tydal’s first phase remains on schedule for year-end delivery, supporting its expansion plans while signaling spending discipline. Capex and Tydal update
• Neutral Sentiment: Trading in call options was notably elevated, which may indicate bullish positioning but is not confirmation of a change in the company’s fundamentals. Bitdeer call-options activity
• Negative Sentiment: Bitdeer lost $0.46 per share, missing the consensus estimate of a $0.33 loss. Despite the revenue beat, the wider-than-expected loss and continued negative profitability are likely weighing on sentiment. Bitdeer earnings report

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.