Bitdeer Technologies Group (NASDAQ:BTDR) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Bitdeer Technologies Group (NASDAQ:BTDR) from a neutral rating to an overweight rating in a report issued on Wednesday morning, MarketBeat Ratings reports. Cantor Fitzgerald currently has $18.00 price objective on the stock, up from their previous price objective of $15.00.

Several other brokerages have also issued reports on BTDR. B. Riley Financial upped their target price on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Citizens Jmp started coverage on shares of Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price objective for the company. Keefe, Bruyette & Woods cut their price objective on shares of Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating for the company in a research note on Tuesday, July 28th. Finally, Wall Street Zen lowered shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.55.

Bitdeer Technologies Group Price Performance

BTDR opened at $10.88 on Wednesday. The stock has a 50-day moving average price of $14.52 and a 200-day moving average price of $12.38. Bitdeer Technologies Group has a 12-month low of $6.92 and a 12-month high of $27.80. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $2.56 billion, a P/E ratio of -3.15 and a beta of 2.50.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate 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%. Bitdeer Technologies Group’s revenue for the quarter was up 169.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.37) earnings per share. Equities analysts predict that Bitdeer Technologies Group will post -1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Situational Awareness LP raised 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 valued at $29,751,000 after buying an additional 1,651,450 shares during the last quarter. Bank of Nova Scotia grew its holdings in Bitdeer Technologies Group by 91.1% in the 1st quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock worth $11,846,000 after acquiring an additional 652,874 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Bitdeer Technologies Group in the third quarter valued at about $6,792,000. Fund Resources Investment Holding Group Co Ltd purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $102,732,000. Finally, UBS Group AG raised its stake in shares of Bitdeer Technologies Group by 2.4% during the fourth quarter. UBS Group AG now owns 2,246,381 shares of the company’s stock valued at $25,182,000 after acquiring an additional 52,808 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors.

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.