Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 6.2% – Should You Sell?

Bitdeer Technologies Group (NASDAQ:BTDR) shares were down 6.2% on Tuesday . The company traded as low as $11.58 and last traded at $11.71. Approximately 1,729,152 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 4,271,740 shares. The stock had previously closed at $12.48.

Wall Street Analyst Weigh In

BTDR has been the topic of several research reports. B. Riley lowered their price objective on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Roth Capital restated a “buy” rating and set a $40.00 price target on shares of Bitdeer Technologies Group in a research report on Wednesday, October 15th. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 20th. Needham & Company LLC upped their price objective on Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, BTIG Research reissued a “buy” rating and set a $25.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, November 26th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Bitdeer Technologies Group Stock Down 3.9%

The stock has a market capitalization of $2.54 billion, a P/E ratio of -2.13 and a beta of 2.33. The stock has a 50 day moving average price of $13.59 and a 200-day moving average price of $14.75. 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 released 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). Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. The company had revenue of $169.71 million during the quarter, compared to the consensus estimate of $151.80 million. During the same period last year, the firm posted ($0.35) EPS. The company’s revenue was up 173.7% on a year-over-year basis. As a group, research analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in shares of Bitdeer Technologies Group by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after purchasing an additional 1,044 shares during the period. Amalgamated Bank bought a new position in Bitdeer Technologies Group during the 2nd quarter valued at approximately $35,000. Tower Research Capital LLC TRC lifted 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 worth $83,000 after buying an additional 7,157 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $105,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Bitdeer Technologies Group in the third quarter worth $159,000. 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.