Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Still a Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) gapped up prior to trading on Friday . The stock had previously closed at $7.34, but opened at $7.65. Bitdeer Technologies Group shares last traded at $7.99, with a volume of 1,049,689 shares traded.

Wall Street Analyst Weigh In

BTDR has been the subject of a number of research reports. Needham & Company LLC reduced their price objective on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Cantor Fitzgerald cut their price target on Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 16th. HC Wainwright cut their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. Finally, UBS Group restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.60.

Bitdeer Technologies Group Price Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.75. The stock’s 50 day moving average price is $11.15 and its two-hundred day moving average price is $14.10. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -2.43 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.59). The business had revenue of $224.84 million for the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.Bitdeer Technologies Group’s revenue was up 225.8% on a year-over-year basis. On average, equities research analysts anticipate that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of BTDR. Advisors Asset Management Inc. increased its holdings in shares of Bitdeer Technologies Group by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after purchasing an additional 1,044 shares during the period. Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at about $34,000. Kestra Advisory Services LLC acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth about $39,000. Tower Research Capital LLC TRC grew its position in Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after buying an additional 7,157 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Bitdeer Technologies Group during the second quarter valued at about $105,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.