Bitdeer Technologies Group (NASDAQ:BTDR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $24.00.

Several brokerages have recently issued reports on BTDR. Zacks Research raised Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Needham & Company LLC lowered their price objective on Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Barclays assumed coverage on Bitdeer Technologies Group in a report on Thursday, August 20th. They set an “overweight” rating and a $15.00 price objective for the company. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Tuesday, August 11th. Finally, 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 price target for the company.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $10.85 on Tuesday. The company has a 50 day moving average price of $11.92 and a 200 day moving average price of $11.97. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $2.47 billion, a PE ratio of -3.55 and a beta of 2.50.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced 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 net margin of 55.15% and a negative return on equity of 54.72%. Analysts forecast that Bitdeer Technologies Group will post -1.72 EPS for the current year.

Insider Activity at Bitdeer Technologies Group

In other Bitdeer Technologies Group news, insider Haris Fozan Basit acquired 25,000 shares of Bitdeer Technologies Group stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $8.84 per share, with a total value of $221,000.00. Following the completion of the purchase, the insider owned 35,000 shares in the company, valued at $309,400. The trade was a 250.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael G. Potter bought 25,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $9.04 per share, with a total value of $226,000.00. Following the acquisition, the chief financial officer directly owned 25,000 shares in the company, valued at approximately $226,000. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BTDR. First Trust Advisors LP grew its stake in shares of Bitdeer Technologies Group by 2.2% during the third quarter. First Trust Advisors LP now owns 40,138 shares of the company’s stock worth $686,000 after purchasing an additional 878 shares during the period. GAMMA Investing LLC lifted its stake in Bitdeer Technologies Group by 57.3% in the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock valued at $39,000 after buying an additional 902 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Bitdeer Technologies Group by 5.6% during the third quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock worth $355,000 after buying an additional 1,100 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Bitdeer Technologies Group by 1.3% during the third quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock worth $1,791,000 after buying an additional 1,307 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Bitdeer Technologies Group by 3.7% during the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock worth $806,000 after buying an additional 2,597 shares during the period. 22.25% of the stock is currently owned by institutional investors.

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.