Shares of Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) shot up 9.6% on Tuesday. The stock traded as high as $6.70 and last traded at $6.7640. 780,443 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 9,660,268 shares. The stock had previously closed at $6.17.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Barclays increased their price target on shares of Bitdeer Technologies Group from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. HC Wainwright reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, October 2nd. Wall Street Zen upgraded shares of Bitdeer Technologies Group from a “strong sell” rating to a “sell” rating in a research report on Saturday. Rosenblatt Securities reissued a “buy” rating and set a $25.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, September 15th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and a consensus price target of $21.60.
View Our Latest Report on Bitdeer Technologies Group
Bitdeer Technologies Group Stock Up 11.1%
The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. The company has a market cap of $1.56 billion, a PE ratio of -2.24 and a beta of 2.56. The company’s fifty day moving average is $10.17 and its 200-day moving average is $11.68.
Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. The business had revenue of $228.78 million for the quarter. On average, analysts predict that Bitdeer Technologies Group will post -1.68 EPS for the current year.
Insiders Place Their Bets
In other Bitdeer Technologies Group news, insider Haris Basit purchased 25,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the completion of the purchase, the insider owned 35,000 shares of the company’s stock, valued at approximately $309,400. The trade was a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael G. Potter acquired 25,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $9.04 per share, for a total transaction of $226,000.00. Following the completion of the acquisition, the chief financial officer directly owned 25,000 shares of the company’s stock, valued at approximately $226,000. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.
Institutional Trading of Bitdeer Technologies Group
Several institutional investors have recently bought and sold shares of BTDR. Funde Sino Life Insurance Co Ltd purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth $109,795,000. Situational Awareness LP increased its position in shares of Bitdeer Technologies Group by 92.4% during 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 during the period. Bank of America Corp DE boosted its holdings in Bitdeer Technologies Group by 1,366.7% in the first quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock valued at $27,919,000 after purchasing an additional 3,007,523 shares during the period. Bank of Nova Scotia grew its stake in Bitdeer Technologies Group by 91.1% during the 1st quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock worth $11,846,000 after purchasing an additional 652,874 shares in the last quarter. Finally, Fund Resources Investment Holding Group Co Ltd acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth $8,353,000. 22.25% of the stock is owned by institutional investors and hedge funds.
Bitdeer Technologies Group Company Profile
Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. The company operates a vertically integrated platform that includes cryptocurrency mining, miner hosting, and hash rate sharing services, allowing customers to participate in digital asset mining without managing all of the underlying hardware and facilities.
Bitdeer conducts self-mining operations and provides data center services for mining equipment. It also develops and manufactures application-specific integrated circuit (ASIC) mining machines through its SEALMINER product line, with the goal of improving mining performance and energy efficiency.
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