Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report)’s share price fell 8.6% during trading on Thursday . The company traded as low as $16.31 and last traded at $16.02. Approximately 634,864 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 8,408,638 shares. The stock had previously closed at $17.52.
Analyst Ratings Changes
A number of analysts recently weighed in on BTDR shares. Rosenblatt Securities increased their price target on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Citizens Jmp assumed coverage on shares of Bitdeer Technologies Group in a report on Wednesday. They issued a “market outperform” rating and a $35.00 target price for the company. Needham & Company LLC increased their target price on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wall Street Zen lowered Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Finally, Zacks Research upgraded Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.
Check Out Our Latest Stock Report on Bitdeer Technologies Group
Bitdeer Technologies Group Stock Down 5.5%
Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) EPS 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 firm had revenue of $188.93 million during the quarter, compared to analyst estimates of $184.02 million. During the same quarter in the previous year, the business earned ($0.37) EPS. Bitdeer Technologies Group’s revenue for the quarter was up 169.5% on a year-over-year basis. On average, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.
Institutional Trading of Bitdeer Technologies Group
A number of institutional investors have recently modified their holdings of the business. Fund Resources Investment Holding Group Co Ltd raised its position in Bitdeer Technologies Group by 3.0% in the first quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock worth $81,660,000 after acquiring an additional 276,098 shares in the last quarter. Bank of America Corp DE grew its stake 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 purchasing an additional 2,553,093 shares during the period. Situational Awareness LP increased its holdings in shares of 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 purchasing an additional 1,651,450 shares in the last quarter. Value Aligned Research Advisors LLC increased its holdings in shares of Bitdeer Technologies Group by 137.0% in the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after purchasing an additional 1,888,825 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of 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 purchasing an additional 800,003 shares during the period. 22.25% of the stock is currently owned by hedge funds and other institutional investors.
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.
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