Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $17.23, but opened at $18.17. Bitdeer Technologies Group shares last traded at $17.1260, with a volume of 1,116,222 shares traded.

Analyst Ratings Changes

Several research firms have commented on BTDR. Rosenblatt Securities increased their price objective on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Zacks Research raised Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Wall Street Zen cut Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Finally, Needham & Company LLC upped their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Bitdeer Technologies Group has an average rating of “Moderate Buy” and a consensus price target of $25.45.

Bitdeer Technologies Group Trading Down 1.4%

The firm has a market cap of $4.00 billion, a P/E ratio of -4.92 and a beta of 2.45. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88. The firm’s 50-day simple moving average is $14.94 and its 200 day simple moving average is $12.15.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. During the same period in the prior year, the company earned ($0.37) earnings per share. The firm’s revenue was up 169.5% on a year-over-year basis. As a group, analysts expect that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors have recently bought and sold shares of the company. Fund Resources Investment Holding Group Co Ltd raised its position in shares of Bitdeer Technologies Group by 3.0% during the 1st quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock valued at $81,660,000 after buying an additional 276,098 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Bitdeer Technologies Group by 67.5% during the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after acquiring an additional 2,553,093 shares during the last quarter. Situational Awareness LP grew its position in Bitdeer Technologies Group by 92.4% in the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after acquiring an additional 1,651,450 shares in the last quarter. Value Aligned Research Advisors LLC increased its stake in Bitdeer Technologies Group by 137.0% in the fourth quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after acquiring an additional 1,888,825 shares during the last quarter. Finally, State Street Corp increased its stake in Bitdeer Technologies Group by 34.1% in the fourth quarter. State Street Corp now owns 3,144,782 shares of the company’s stock valued at $35,253,000 after acquiring an additional 800,003 shares during the last quarter. Hedge funds and other 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.