Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 8.6% – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shot up 8.6% on Thursday . The stock traded as high as $13.55 and last traded at $13.6380. Approximately 1,702,660 shares traded hands during trading, a decline of 80% from the average session volume of 8,574,466 shares. The stock had previously closed at $12.56.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BTDR shares. B. Riley Financial raised their price target 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. Needham & Company LLC raised their target price on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Zacks Research raised shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings raised shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of “Moderate Buy” and an average price target of $25.45.

Bitdeer Technologies Group Stock Performance

The firm has a market cap of $3.25 billion, a PE ratio of -4.01 and a beta of 2.47. The business has a 50 day simple moving average of $15.56 and a two-hundred day simple moving average of $12.46. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued 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). The company had revenue of $188.93 million for the quarter, compared to analysts’ expectations of $184.02 million. Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The firm’s revenue for the quarter was up 169.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.37) earnings per share. As a group, equities research analysts forecast that Bitdeer Technologies Group will post -1.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in Bitdeer Technologies Group during the 4th quarter valued at $34,000. GAMMA Investing LLC grew its position in shares of Bitdeer Technologies Group by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after buying an additional 902 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at $39,000. Hollencrest Capital Management bought a new stake in shares of Bitdeer Technologies Group in the first quarter valued at about $43,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Bitdeer Technologies Group in the second quarter valued at about $66,000. 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.