Keefe, Bruyette & Woods Cuts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $14.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective cut by Keefe, Bruyette & Woods from $17.00 to $14.00 in a research report report published on Tuesday,Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts have also recently issued reports about the company. Rosenblatt Securities increased their price target on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Citizens Jmp started coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $35.00 target price on the stock. Cantor Fitzgerald increased their target price on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Needham & Company LLC raised their price target 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. Finally, Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.45.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $11.10 on Tuesday. The stock has a 50-day moving average price of $15.12 and a 200-day moving average price of $12.50. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The firm has a market cap of $2.61 billion, a PE ratio of -3.22 and a beta of 2.47.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings data 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 analyst estimates of $184.02 million. During the same period in the prior year, the firm earned ($0.37) earnings per share. The firm’s revenue for the quarter was up 169.5% compared to the same quarter last year. As a group, equities research analysts expect that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in shares of Bitdeer Technologies Group by 167.6% during the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after buying an additional 302,548 shares during the last quarter. Legal & General Group Plc raised its position in Bitdeer Technologies Group by 39.0% in the 2nd quarter. Legal & General Group Plc now owns 73,541 shares of the company’s stock valued at $844,000 after buying an additional 20,640 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Bitdeer Technologies Group in the 2nd quarter valued at $326,000. Invesco Ltd. raised its position in Bitdeer Technologies Group by 169.0% in the 2nd quarter. Invesco Ltd. now owns 71,822 shares of the company’s stock valued at $825,000 after buying an additional 45,120 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Bitdeer Technologies Group during the 2nd quarter valued at $1,558,000. 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.