Haris Fozan Basit Acquires 25,000 Shares of Bitdeer Technologies Group (NASDAQ:BTDR) Stock

Bitdeer Technologies Group (NASDAQ:BTDR) insider Haris Fozan Basit acquired 25,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $8.84 per share, with a total value of $221,000.00. Following the purchase, the insider owned 35,000 shares of the company’s stock, valued at approximately $309,400. This trade represents a 250.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bitdeer Technologies Group Stock Down 4.2%

Shares of Bitdeer Technologies Group stock opened at $9.00 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.01 and a current ratio of 1.01. Bitdeer Technologies Group has a 52-week low of $6.92 and a 52-week high of $27.80. The company’s 50 day moving average price is $13.18 and its 200-day moving average price is $12.09. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -2.94 and a beta of 2.50.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share for the quarter. The firm had revenue of $228.78 million for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. Equities research analysts forecast that Bitdeer Technologies Group will post -1.54 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth about $34,000. GAMMA Investing LLC lifted its position in Bitdeer Technologies Group by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock valued at $39,000 after acquiring an additional 902 shares during the period. Kestra Advisory Services LLC bought a new stake in Bitdeer Technologies Group during the fourth quarter worth about $39,000. Hollencrest Capital Management bought a new stake in Bitdeer Technologies Group during the first quarter worth about $43,000. Finally, FNY Investment Advisers LLC purchased a new stake in Bitdeer Technologies Group in the second quarter worth about $66,000. Institutional investors own 22.25% of the company’s stock.

Analyst Upgrades and Downgrades

BTDR has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bitdeer Technologies Group in a research note on Thursday, August 13th. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Tuesday, August 11th. Keefe, Bruyette & Woods dropped their target price 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, August 13th. 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. Finally, B. Riley Financial reduced their price target on shares of Bitdeer Technologies Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.82.

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.