Bitdeer Technologies Group (NASDAQ:BTDR) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Bitdeer Technologies Group (NASDAQ:BTDR) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC boosted their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Weiss Ratings raised Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Rosenblatt Securities boosted their target price on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. B. Riley Financial boosted their target price on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Wall Street Zen lowered Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.50.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ:BTDR opened at $19.71 on Tuesday. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The business has a 50-day simple moving average of $12.52 and a two-hundred day simple moving average of $11.54. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -5.71 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The business had revenue of $188.93 million during the quarter, compared to analysts’ expectations of $184.02 million. During the same period last year, the firm posted ($0.37) EPS. Bitdeer Technologies Group’s quarterly revenue was up 169.5% compared to the same quarter last year. On average, analysts expect that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fund Resources Investment Holding Group Co Ltd increased its position in shares of Bitdeer Technologies Group by 3.0% during the 1st quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock valued at $81,660,000 after purchasing an additional 276,098 shares during the last quarter. Bank of America Corp DE increased its position in shares of Bitdeer Technologies Group by 67.5% during 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 purchasing an additional 2,553,093 shares during the last quarter. Situational Awareness LP increased its position in shares of Bitdeer Technologies Group by 92.4% during the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock valued at $29,751,000 after purchasing an additional 1,651,450 shares during the last quarter. Value Aligned Research Advisors LLC increased its position in shares of Bitdeer Technologies Group by 137.0% during the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after purchasing an additional 1,888,825 shares during the last quarter. Finally, State Street Corp increased its position in shares of Bitdeer Technologies Group by 34.1% during the 4th quarter. State Street Corp now owns 3,144,782 shares of the company’s stock valued at $35,253,000 after purchasing an additional 800,003 shares during the last quarter. Hedge funds and other institutional investors 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.