Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Up 9.8% – Still a Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price traded up 9.8% during mid-day trading on Friday . The stock traded as high as $10.77 and last traded at $10.9940. 3,319,031 shares traded hands during trading, a decline of 45% from the average session volume of 6,046,152 shares. The stock had previously closed at $10.01.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. HC Wainwright cut their target price on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Jones Trading began coverage on shares of Bitdeer Technologies Group in a report on Monday, October 6th. They issued a “buy” rating and a $32.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, October 8th. Cantor Fitzgerald lowered their price target on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Roth Capital reaffirmed a “buy” rating and issued a $40.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, October 15th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Bitdeer Technologies Group Trading Up 10.0%

The firm has a market cap of $2.33 billion, a P/E ratio of -1.96 and a beta of 2.31. The firm has a fifty day simple moving average of $16.36 and a 200-day simple moving average of $14.88. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.74.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.06). The firm had revenue of $169.71 million during the quarter, compared to the consensus estimate of $151.80 million. Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The business’s revenue was up 173.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.35) EPS. On average, equities research analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its stake in shares of Bitdeer Technologies Group by 167.6% in the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock worth $4,265,000 after buying an additional 302,548 shares during the period. Deutsche Bank AG increased its holdings in Bitdeer Technologies Group by 198.3% in the 1st quarter. Deutsche Bank AG now owns 49,301 shares of the company’s stock worth $435,000 after acquiring an additional 32,776 shares in the last quarter. Geode Capital Management LLC raised its stake in Bitdeer Technologies Group by 197.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock worth $18,280,000 after acquiring an additional 1,057,552 shares during the period. Harvest Portfolios Group Inc. lifted its holdings in Bitdeer Technologies Group by 76.3% during the second quarter. Harvest Portfolios Group Inc. now owns 64,469 shares of the company’s stock valued at $740,000 after purchasing an additional 27,891 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Bitdeer Technologies Group by 45.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 537,082 shares of the company’s stock worth $4,742,000 after purchasing an additional 168,304 shares during the period. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Bitdeer Technologies Group

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.