Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $22.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective boosted by Needham & Company LLC from $19.00 to $22.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently commented on BTDR. Citizens Jmp began coverage on Bitdeer Technologies Group in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price objective for the company. Keefe, Bruyette & Woods decreased their price target on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 28th. Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Cantor Fitzgerald upped their price objective on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, Wall Street Zen lowered shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bitdeer Technologies Group has an average rating of “Moderate Buy” and an average target price of $25.55.

Bitdeer Technologies Group Stock Down 4.9%

Shares of NASDAQ BTDR opened at $10.52 on Tuesday. Bitdeer Technologies Group has a 1 year low of $6.92 and a 1 year high of $27.80. The firm’s 50 day moving average price is $14.65 and its 200 day moving average price is $12.39. The firm has a market cap of $2.48 billion, a P/E ratio of -3.05 and a beta of 2.50. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85.

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 the consensus estimate 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 quarter last year, the firm posted ($0.37) earnings per share. The company’s revenue was up 169.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTDR. Empowered Funds LLC purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth about $34,000. GAMMA Investing LLC grew its holdings in shares of Bitdeer Technologies Group by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after purchasing an additional 902 shares during the period. Kestra Advisory Services LLC acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth approximately $39,000. Hollencrest Capital Management acquired a new stake in Bitdeer Technologies Group during the 1st quarter worth approximately $43,000. Finally, FNY Investment Advisers LLC purchased a new position in Bitdeer Technologies Group in the second quarter valued at approximately $66,000. Institutional investors and hedge funds 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.