Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) shares shot up 8.7% during mid-day trading on Thursday . The stock traded as high as $16.79 and last traded at $16.8890. 5,963,409 shares were traded during mid-day trading, a decline of 24% from the average session volume of 7,812,700 shares. The stock had previously closed at $15.54.
Wall Street Analyst Weigh In
Several research firms have issued reports on BTDR. Rosenblatt Securities lifted their price target on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Cantor Fitzgerald lifted their price target on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Wall Street Zen cut Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. UBS Group restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Finally, Benchmark decreased 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. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.
Check Out Our Latest Stock Analysis on BTDR
Bitdeer Technologies Group Price Performance
Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.21). The company had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. Bitdeer Technologies Group’s revenue was up 169.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) EPS. On average, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.06 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Bitdeer Technologies Group
Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC bought a new position in Bitdeer Technologies Group during the fourth quarter worth about $34,000. Kestra Advisory Services LLC bought a new position in Bitdeer Technologies Group during the fourth quarter worth about $39,000. Hollencrest Capital Management bought a new position in Bitdeer Technologies Group during the first quarter worth about $43,000. Tower Research Capital LLC TRC grew its holdings 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 worth $83,000 after purchasing an additional 7,157 shares during the period. Finally, Leonteq Securities AG bought a new position in Bitdeer Technologies Group during the first quarter worth about $72,000. 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.
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