Bitdeer Technologies Group (NASDAQ:BTDR) Given New $22.00 Price Target at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price hoisted by equities research analysts at Needham & Company LLC from $19.00 to $22.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 87.65% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald boosted their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods lowered their target price on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating on the stock in a report on Tuesday, July 28th. B. Riley Financial upped their price target on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings raised Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Finally, Citizens Jmp assumed coverage on Bitdeer Technologies Group in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price objective for the company. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.73.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock traded up $0.35 on Tuesday, reaching $11.72. 16,646,219 shares of the stock were exchanged, compared to its average volume of 8,765,850. The stock has a market cap of $2.76 billion, a PE ratio of -3.38 and a beta of 2.50. 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 has a twelve month low of $6.92 and a twelve month high of $27.80. The firm has a fifty day moving average price of $14.98 and a two-hundred day moving average price of $12.48.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). The firm had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The firm’s revenue was up 169.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.37) earnings per share. Sell-side analysts anticipate that Bitdeer Technologies Group will post -1.54 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors have recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $34,000. GAMMA Investing LLC lifted its position in 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 purchasing an additional 902 shares during the period. Kestra Advisory Services LLC acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth $39,000. Hollencrest Capital Management acquired a new stake in Bitdeer Technologies Group during the first quarter worth $43,000. Finally, FNY Investment Advisers LLC bought a new stake in Bitdeer Technologies Group in the 2nd quarter valued at $66,000. Institutional investors and hedge funds 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.