Bitdeer Technologies Group (NASDAQ:BTDR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $24.50.

A number of analysts have weighed in on BTDR shares. Rosenblatt Securities increased their price target on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald increased their price target on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Bitdeer Technologies Group in a report on Wednesday, May 20th. Zacks Research raised shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. 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.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its stake in shares of Bitdeer Technologies Group by 1,366.7% in the 1st quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock valued at $27,919,000 after buying an additional 3,007,523 shares in the last quarter. Situational Awareness LP raised its stake in shares of Bitdeer Technologies Group by 92.4% in the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock valued at $29,751,000 after buying an additional 1,651,450 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Bitdeer Technologies Group by 80.2% in the 1st quarter. Royal Bank of Canada now owns 9,548 shares of the company’s stock valued at $83,000 after buying an additional 4,250 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Bitdeer Technologies Group by 9.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 33,940 shares of the company’s stock valued at $294,000 after buying an additional 2,950 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Bitdeer Technologies Group in the 1st quarter valued at $131,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock opened at $17.92 on Thursday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.85 and a quick ratio of 1.11. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The firm has a fifty day moving average price of $14.34 and a two-hundred day moving average price of $12.02. The company has a market cap of $4.22 billion, a PE ratio of -5.19 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share 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 company had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. During the same period last year, the company earned ($0.37) earnings per share. Bitdeer Technologies Group’s revenue for the quarter was up 169.5% on a year-over-year basis. Analysts expect that Bitdeer Technologies Group will post -1.18 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.