Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Down 5.9% – Should You Sell?

Bitdeer Technologies Group (NASDAQ:BTDR) dropped 5.9% on Thursday . The stock traded as low as $12.02 and last traded at $11.8660. Approximately 577,579 shares changed hands during trading, a decline of 93% from the average daily volume of 7,739,452 shares. The stock had previously closed at $12.61.

Analyst Upgrades and Downgrades

BTDR has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Rosenblatt Securities reissued a “buy” rating and set a $18.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, March 18th. HC Wainwright reduced their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Benchmark reduced their price objective on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Needham & Company LLC reduced their price objective on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a report on Friday, February 13th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.20.

Bitdeer Technologies Group Stock Down 2.7%

The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.60 billion, a PE ratio of -3.90 and a beta of 2.28. The stock has a 50-day moving average of $9.19 and a 200-day moving average of $13.16.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The business had revenue of $224.84 million during the quarter, compared to analysts’ expectations of $208.25 million. The company’s revenue was up 225.8% compared to the same quarter last year. Sell-side analysts predict that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in Bitdeer Technologies Group during the fourth quarter valued at about $34,000. Kestra Advisory Services LLC purchased a new stake in Bitdeer Technologies Group during the fourth quarter valued at about $39,000. Tower Research Capital LLC TRC raised its position in Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Bitdeer Technologies Group during the third quarter valued at about $159,000. Finally, Mariner LLC purchased a new stake in Bitdeer Technologies Group during the fourth quarter valued at about $117,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Bitdeer Technologies Group

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.