Bitdeer Technologies Group (NASDAQ:BTDR) Shares Down 6.2% – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price fell 6.2% during trading on Tuesday . The company traded as low as $11.58 and last traded at $11.71. 1,729,152 shares were traded during mid-day trading, a decline of 60% from the average session volume of 4,271,740 shares. The stock had previously closed at $12.48.

Analyst Ratings Changes

A number of brokerages recently commented on BTDR. BTIG Research reaffirmed a “buy” rating and issued a $25.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday, November 26th. Jones Trading began coverage on Bitdeer Technologies Group in a report on Monday, October 6th. They issued a “buy” rating and a $32.00 target price for the company. Cantor Fitzgerald cut their target price on Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Monday, October 20th. Finally, HC Wainwright cut their price objective on shares of Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Twelve analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Bitdeer Technologies Group Price Performance

The stock has a 50 day moving average of $12.90 and a 200-day moving average of $14.71. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.48 billion, a P/E ratio of -2.08 and a beta of 2.33.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Monday, November 10th. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The business had revenue of $169.71 million during the quarter, compared to analysts’ expectations of $151.80 million. During the same quarter in the previous year, the business earned ($0.35) EPS. The business’s revenue for the quarter was up 173.7% on a year-over-year basis. On average, equities research analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its position in shares of Bitdeer Technologies Group by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after acquiring an additional 1,044 shares during the period. Amalgamated Bank bought a new position in Bitdeer Technologies Group in the second quarter worth approximately $35,000. Tower Research Capital LLC TRC grew its stake in Bitdeer Technologies Group by 7,157.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after purchasing an additional 7,157 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Bitdeer Technologies Group during the 2nd quarter worth $105,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Bitdeer Technologies Group during the 3rd quarter valued at $159,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.