Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR) shares gapped up before the market opened on Friday . The stock had previously closed at $11.01, but opened at $11.98. Bitdeer Technologies Group shares last traded at $12.1890, with a volume of 334,730 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Monday, October 20th. B. Riley reduced their price target on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Needham & Company LLC raised their price objective on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. HC Wainwright dropped their target price on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. Nine 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.39.

Bitdeer Technologies Group Stock Up 15.8%

The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -2.24 and a beta of 2.33. The business has a 50-day moving average price of $12.36 and a 200-day moving average price of $14.87.

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

Institutional Trading of Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the company. Fund Resources Investment Holding Group Co Ltd purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth approximately $102,732,000. Bank of America Corp DE increased its stake in Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after buying an additional 2,553,093 shares during the period. Azora Capital LP purchased a new stake in Bitdeer Technologies Group in the 3rd quarter worth approximately $23,817,000. Geode Capital Management LLC boosted its stake in shares of Bitdeer Technologies Group by 197.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after buying an additional 1,057,552 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Bitdeer Technologies Group by 5,771.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company’s stock valued at $8,700,000 after buying an additional 744,956 shares during the period. 22.25% of the stock is owned by institutional investors and hedge funds.

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.