Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – Time to Sell?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $9.61, but opened at $8.29. Bitdeer Technologies Group shares last traded at $7.9480, with a volume of 7,675,985 shares.

Wall Street Analyst Weigh In

BTDR has been the topic of a number of research analyst reports. Cantor Fitzgerald lowered their target price on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. HC Wainwright decreased their price target on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Benchmark dropped their price objective on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. B. Riley Financial cut their price objective on Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, Needham & Company LLC lowered their target price on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.60.

Bitdeer Technologies Group Stock Performance

The firm’s fifty day moving average price is $12.12 and its 200-day moving average price is $14.70. The company has a market cap of $1.72 billion, a P/E ratio of -2.58 and a beta of 2.33. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The firm had revenue of $224.84 million for the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group’s revenue was up 225.8% compared to the same quarter last year. As a group, research analysts forecast that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its stake in shares of Bitdeer Technologies Group by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after buying an additional 1,044 shares in the last quarter. Amalgamated Bank bought a new stake in Bitdeer Technologies Group in the second quarter valued at about $35,000. Empowered Funds LLC acquired a new position in Bitdeer Technologies Group in the fourth quarter worth about $34,000. Kestra Advisory Services LLC bought a new position in Bitdeer Technologies Group during the fourth quarter worth about $39,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares in the last quarter. 22.25% of the stock is 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.