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

Bitdeer Technologies Group (NASDAQ:BTDR) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $24.8182.

Several equities research analysts have recently commented on BTDR shares. Keefe, Bruyette & Woods reduced their price target on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday. Zacks Research raised shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Citizens Jmp initiated 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 for the company. B. Riley Financial cut their target price on shares of Bitdeer Technologies Group from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Weiss Ratings raised shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 18th.

Insider Activity

In related news, CFO Michael G. Potter acquired 25,000 shares of Bitdeer Technologies Group stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $9.04 per share, for a total transaction of $226,000.00. Following the purchase, the chief financial officer directly owned 25,000 shares of the company’s stock, valued at approximately $226,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in Bitdeer Technologies Group by 167.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock worth $4,265,000 after buying an additional 302,548 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Bitdeer Technologies Group by 39.0% in the second quarter. Legal & General Group Plc now owns 73,541 shares of the company’s stock valued at $844,000 after acquiring an additional 20,640 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of Bitdeer Technologies Group in the second quarter valued at about $326,000. Invesco Ltd. boosted its stake in shares of Bitdeer Technologies Group by 169.0% in the second quarter. Invesco Ltd. now owns 71,822 shares of the company’s stock worth $825,000 after acquiring an additional 45,120 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Bitdeer Technologies Group in the second quarter worth about $1,558,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $8.76 on Friday. The firm has a fifty day simple moving average of $13.69 and a two-hundred day simple moving average of $12.20. The firm has a market cap of $2.06 billion, a PE ratio of -2.86 and a beta of 2.50. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. The firm had revenue of $228.78 million during the quarter. Bitdeer Technologies Group had a negative return on equity of 61.88% and a negative net margin of 55.15%. On average, equities analysts anticipate that Bitdeer Technologies Group will post -1.54 EPS for the current year.

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.