Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 6% – Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price traded up 6% during mid-day trading on Monday . The stock traded as high as $10.32 and last traded at $9.9070. 1,276,942 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 7,882,844 shares. The stock had previously closed at $9.35.

Wall Street Analyst Weigh In

BTDR has been the subject of a number of recent research reports. Zacks Research downgraded Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. 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 report on Tuesday, February 10th. HC Wainwright reduced their price objective on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Needham & Company LLC lowered their target price on shares of Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, Cantor Fitzgerald dropped their target price on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 16th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.60.

Bitdeer Technologies Group Trading Up 3.7%

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’s 50 day moving average is $9.60 and its 200 day moving average is $13.48. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -3.10 and a beta of 2.28.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly 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 during the quarter, compared to analyst estimates of $208.25 million. The business’s revenue for the quarter was up 225.8% on a year-over-year basis. On average, research analysts forecast that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth $39,000. Tower Research Capital LLC TRC increased its holdings in 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 buying an additional 7,157 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $159,000. Finally, Mariner LLC acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $117,000. Institutional investors and hedge funds 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.