Bitdeer Technologies Group (NASDAQ:BTDR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $24.50.

A number of analysts have recently commented on the company. Rosenblatt Securities lifted their price target on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Needham & Company LLC lifted their price target on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, May 20th. Wall Street Zen lowered Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Finally, Cantor Fitzgerald lifted their price target on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 15th.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $17.49 on Friday. Bitdeer Technologies Group has a 12-month low of $6.92 and a 12-month high of $27.80. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88. The business’s 50-day moving average price is $11.89 and its two-hundred day moving average price is $11.47. The stock has a market cap of $4.12 billion, a PE ratio of -5.07 and a beta of 2.32.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The business had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. During the same quarter in the prior year, the firm earned ($0.37) EPS. The business’s revenue was up 169.5% on a year-over-year basis. As a group, analysts expect that Bitdeer Technologies Group will post -1.06 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at about $34,000. Kestra Advisory Services LLC acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at about $39,000. Hollencrest Capital Management acquired a new stake in shares of Bitdeer Technologies Group during the first quarter valued at about $43,000. Leonteq Securities AG acquired a new stake in shares of Bitdeer Technologies Group during the first quarter valued at about $72,000. Finally, Royal Bank of Canada lifted its stake in shares of Bitdeer Technologies Group by 80.2% in the first quarter. Royal Bank of Canada now owns 9,548 shares of the company’s stock worth $83,000 after acquiring an additional 4,250 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.