Bitdeer Technologies Group (NASDAQ:BTDR) Given New $19.00 Price Target at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target increased by investment analysts at Needham & Company LLC from $18.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 28.81% from the stock’s current price.

Several other research analysts have also recently commented on BTDR. Rosenblatt Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, March 18th. Zacks Research lowered shares of Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. UBS Group reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Wall Street Zen lowered Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.90.

Bitdeer Technologies Group Trading Up 11.6%

Shares of Bitdeer Technologies Group stock opened at $14.75 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. The firm has a 50-day moving average of $10.36 and a 200-day moving average of $11.99. Bitdeer Technologies Group has a 52-week low of $6.92 and a 52-week high of $27.80. The stock has a market cap of $3.47 billion, a PE ratio of -4.70 and a beta of 2.32.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.21). The business had revenue of $188.93 million during the quarter, compared to analyst estimates of $184.75 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.Bitdeer Technologies Group’s revenue for the quarter was up 169.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.37) EPS. As a group, sell-side analysts forecast that Bitdeer Technologies Group will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BTDR. Fund Resources Investment Holding Group Co Ltd bought a new stake in Bitdeer Technologies Group during the 4th quarter worth $102,732,000. Bank of America Corp DE raised its position in Bitdeer Technologies Group by 67.5% in the second 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. Value Aligned Research Advisors LLC boosted its stake in shares of Bitdeer Technologies Group by 137.0% during the fourth 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 in the last quarter. Azora Capital LP acquired a new stake in shares of Bitdeer Technologies Group during the third quarter valued at about $23,817,000. Finally, Situational Awareness LP grew its holdings in shares of Bitdeer Technologies Group by 92.3% during the fourth quarter. Situational Awareness LP now owns 1,788,000 shares of the company’s stock worth $20,043,000 after purchasing an additional 858,400 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors.

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.