Citizens Jmp Initiates Coverage on Bitdeer Technologies Group (NASDAQ:BTDR)

Analysts at Citizens Jmp started coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note issued on Wednesday. The firm set an “outperform” rating and a $35.00 price target on the stock. Citizens Jmp’s target price points to a potential upside of 103.13% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Zacks Research raised shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. B. Riley Financial boosted their price target on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Rosenblatt Securities upped their price objective on 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 raised their target price on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of Bitdeer Technologies Group in a report on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $17.23 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. Bitdeer Technologies Group has a 52 week low of $6.92 and a 52 week high of $27.80. The stock has a 50 day moving average of $14.94 and a 200-day moving average of $12.15. The stock has a market cap of $4.06 billion, a P/E ratio of -4.99 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings data 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). The firm had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The firm’s quarterly revenue was up 169.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.37) earnings per share. On average, analysts expect that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fund Resources Investment Holding Group Co Ltd acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $102,732,000. Bank of America Corp DE grew its position in Bitdeer Technologies Group by 1,366.7% during the first quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock worth $27,919,000 after buying an additional 3,007,523 shares in the last quarter. Value Aligned Research Advisors LLC grew its holdings in shares of Bitdeer Technologies Group by 137.0% during the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock worth $36,630,000 after purchasing an additional 1,888,825 shares in the last quarter. Situational Awareness LP increased its holdings in 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 during the period. Finally, Azora Capital LP bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $23,817,000. Institutional investors 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.