Bitdeer Technologies Group (NASDAQ:BTDR) Receives $29.00 Average Price Target from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $29.00.

Several analysts recently weighed in on BTDR shares. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 20th. HC Wainwright reduced their price target on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Jones Trading began coverage on Bitdeer Technologies Group in a research note on Monday, October 6th. They issued a “buy” rating and a $32.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald reduced their target price on Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 16th.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in Bitdeer Technologies Group by 2.2% during the third quarter. First Trust Advisors LP now owns 40,138 shares of the company’s stock valued at $686,000 after acquiring an additional 878 shares during the last quarter. Main Management ETF Advisors LLC lifted its stake in shares of Bitdeer Technologies Group by 1.6% in the 2nd quarter. Main Management ETF Advisors LLC now owns 57,153 shares of the company’s stock valued at $656,000 after purchasing an additional 924 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Bitdeer Technologies Group by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after purchasing an additional 1,044 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Bitdeer Technologies Group by 5.6% during the third quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock worth $355,000 after purchasing an additional 1,100 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Bitdeer Technologies Group by 1.3% during the third quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock worth $1,791,000 after purchasing an additional 1,307 shares during the period. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $11.00 on Thursday. The business has a 50 day moving average of $14.73 and a 200-day moving average of $14.79. The company has a market capitalization of $2.33 billion, a P/E ratio of -1.95 and a beta of 2.32. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.74.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Monday, November 10th. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). The business had revenue of $169.71 million for the quarter, compared to the consensus estimate of $151.80 million. Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The company’s revenue was up 173.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) earnings per share. On average, equities research analysts predict that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

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.