Rosenblatt Securities Reiterates Buy Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a report released on Wednesday,Benzinga reports. They currently have a $18.00 target price on the stock. Rosenblatt Securities’ price target points to a potential upside of 94.59% from the company’s previous close.

A number of other brokerages have also recently commented on BTDR. Benchmark lowered their price target on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. UBS Group reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Cantor Fitzgerald reduced their price objective on Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 16th. Needham & Company LLC decreased their target price 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. Finally, BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.60.

Bitdeer Technologies Group Trading Up 12.8%

NASDAQ BTDR opened at $9.25 on Wednesday. The company has a fifty day simple moving average of $10.93 and a two-hundred day simple moving average of $14.00. The stock has a market cap of $1.96 billion, a P/E ratio of -2.95 and a beta of 2.40. Bitdeer Technologies Group has a 12-month low of $6.84 and a 12-month high of $27.80. 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 posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.59). The company had revenue of $224.84 million for the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The company’s quarterly revenue was up 225.8% compared to the same quarter last year. On average, analysts forecast that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted 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 last quarter. ProShare Advisors LLC acquired a new position in Bitdeer Technologies Group in the second quarter valued at approximately $211,000. Geode Capital Management LLC lifted its holdings in Bitdeer Technologies Group by 197.7% in 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. Police & Firemen s Retirement System of New Jersey boosted its position in Bitdeer Technologies Group by 108.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,724 shares of the company’s stock worth $456,000 after purchasing an additional 20,666 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $501,000. 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.