Insider Buying: Bitdeer Technologies Group (NASDAQ:BTDR) Insider Buys 25,000 Shares of Stock

Bitdeer Technologies Group (NASDAQ:BTDR) insider Haris Fozan Basit purchased 25,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the insider directly owned 35,000 shares of the company’s stock, valued at $309,400. This represents a 250.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $9.13 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20. The stock’s 50 day moving average is $13.53 and its two-hundred day moving average is $12.16. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80. The firm has a market capitalization of $2.08 billion, a PE ratio of -2.98 and a beta of 2.50.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. The business had revenue of $228.78 million during the quarter. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%. Research analysts anticipate that Bitdeer Technologies Group will post -1.54 earnings per share for the current year.

Analyst Ratings Changes

BTDR has been the subject of several analyst reports. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Rosenblatt Securities raised their price objective on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bitdeer Technologies Group in a research report on Thursday. Needham & Company LLC decreased their target price on shares of Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald upgraded Bitdeer Technologies Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $15.00 to $18.00 in a research note on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and an average price target of $24.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $34,000. GAMMA Investing LLC raised its stake in shares of Bitdeer Technologies Group by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after buying an additional 902 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at $39,000. Hollencrest Capital Management acquired a new stake in shares of Bitdeer Technologies Group in the first quarter valued at $43,000. Finally, FNY Investment Advisers LLC bought a new position in Bitdeer Technologies Group during the second quarter valued at about $66,000. 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.