Benchmark Cuts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $27.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target reduced by research analysts at Benchmark from $38.00 to $27.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 108.49% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. Roth Mkm restated a “buy” rating and issued a $40.00 price target on shares of Bitdeer Technologies Group in a research report on Wednesday, October 15th. Needham & Company LLC lifted their price objective on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. B. Riley Financial reduced their target price on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Finally, HC Wainwright lowered their price target on shares of Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.90.

Bitdeer Technologies Group Trading Down 2.4%

NASDAQ:BTDR traded down $0.32 on Tuesday, hitting $12.95. 1,680,609 shares of the stock were exchanged, compared to its average volume of 5,635,519. The stock has a market cap of $2.74 billion, a PE ratio of -2.30 and a beta of 2.33. The stock has a fifty day moving average of $12.35 and a 200-day moving average of $14.85. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Bitdeer Technologies Group has a fifty-two week low of $6.84 and a fifty-two week high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data 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). Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. The company had revenue of $169.71 million during the quarter, compared to the consensus estimate of $151.80 million. During the same quarter last year, the business earned ($0.35) earnings per share. The company’s revenue was up 173.7% on a year-over-year basis. As a group, equities analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently bought and sold shares of the stock. Fund Resources Investment Holding Group Co Ltd purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $102,732,000. Bank of America Corp DE lifted its holdings in Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after purchasing an additional 2,553,093 shares in the last quarter. Azora Capital LP acquired a new stake in Bitdeer Technologies Group in the 3rd quarter worth about $23,817,000. Geode Capital Management LLC grew its position in Bitdeer Technologies Group by 197.7% during the second quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after acquiring an additional 1,057,552 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Bitdeer Technologies Group by 5,771.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company’s stock valued at $8,700,000 after buying an additional 744,956 shares in the last quarter. 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.