Bitdeer Technologies Group (NASDAQ:BTDR) Given New $23.00 Price Target at B. Riley Financial

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price hoisted by equities research analysts at B. Riley Financial from $22.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s target price would suggest a potential upside of 75.14% from the company’s previous close.

Several other brokerages have also recently commented on BTDR. BTIG Research reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. Benchmark dropped their target price on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Needham & Company LLC boosted their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Monday, April 20th. Nine 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.com, Bitdeer Technologies Group presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ:BTDR traded down $1.62 during trading on Friday, reaching $13.13. The company had a trading volume of 4,238,796 shares, compared to its average volume of 7,615,929. The firm’s fifty day moving average is $10.36 and its 200 day moving average is $11.99. The firm has a market capitalization of $3.09 billion, a PE ratio of -4.18 and a beta of 2.32. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The firm had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.75 million. During the same period in the previous year, the firm earned ($0.37) EPS. Bitdeer Technologies Group’s revenue for the quarter was up 169.5% on a year-over-year basis. On average, equities analysts forecast that Bitdeer Technologies Group will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BTDR. Great Lakes Advisors LLC purchased a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $1,355,000. Tudor Investment Corp ET AL purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $6,792,000. Keystone Investors PTE Ltd. purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $7,844,000. Neo Ivy Capital Management purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $3,427,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of Bitdeer Technologies Group by 2,332.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 272,313 shares of the company’s stock valued at $4,654,000 after acquiring an additional 261,118 shares in the last quarter. Institutional investors own 22.25% of the company’s stock.

More Bitdeer Technologies Group News

Here are the key news stories impacting Bitdeer Technologies Group this week:

• Positive Sentiment: Needham raised its price target on Bitdeer Technologies Group (BTDR) to $19 from $18 and kept a buy rating, signaling continued confidence in the company’s growth outlook.
• Positive Sentiment: Rosenblatt Securities lifted its target to $25 from $18 and reiterated a buy rating, pointing to much higher upside potential after the Q1 update.
• Positive Sentiment: Cantor Fitzgerald increased its target to $15 from $11, maintaining a neutral rating, reflecting improved expectations even though the stock still faces execution risks.
• Neutral Sentiment: Market commentary highlighted record Bitcoin mining-related activity and strong revenue growth, but also noted cost pressures and an earnings miss that keep sentiment mixed.
• Negative Sentiment: Bitdeer’s Q1 loss was wider than expected, which may limit enthusiasm until the company shows clearer progress toward sustained profitability.

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.