Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 10% – Here’s What Happened

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) rose 10% on Monday . The stock traded as high as $8.47 and last traded at $8.25. Approximately 1,467,119 shares traded hands during trading, a decline of 81% from the average daily volume of 7,736,294 shares. The stock had previously closed at $7.50.

Analyst Upgrades and Downgrades

BTDR has been the subject of a number of research reports. Needham & Company LLC decreased their price objective on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a report on Friday, February 13th. Benchmark cut their target price 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. UBS Group reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. Finally, Rosenblatt Securities lowered their price objective on shares of Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.60.

Bitdeer Technologies Group Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. The company has a fifty day moving average price of $10.93 and a two-hundred day moving average price of $14.00. The company has a market cap of $1.96 billion, a P/E ratio of -2.95 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $224.84 million for the quarter, compared to the consensus estimate of $208.25 million. The company’s revenue was up 225.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its stake in shares of Bitdeer Technologies Group by 68.4% in the second 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. Empowered Funds LLC bought a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $34,000. Kestra Advisory Services LLC acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter worth about $39,000. Tower Research Capital LLC TRC raised its holdings in shares of Bitdeer Technologies Group by 7,157.0% in the 2nd 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 during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $105,000. Institutional investors 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.