Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up on Analyst Upgrade

Shares of Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) gapped up before the market opened on Tuesday after Cantor Fitzgerald upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $11.37, but opened at $12.79. Cantor Fitzgerald now has a $18.00 price target on the stock, up from their previous price target of $15.00. Bitdeer Technologies Group shares last traded at $12.2150, with a volume of 7,140,133 shares trading hands.

Several other brokerages have also recently issued reports on BTDR. Keefe, Bruyette & Woods cut their target price on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Needham & Company LLC increased their target price on shares of Bitdeer Technologies Group from $19.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Citizens Jmp began coverage on shares of Bitdeer Technologies Group in a report on Wednesday, June 24th. They set a “market outperform” rating and a $35.00 price target on the stock. Finally, B. Riley Financial lifted their price target on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and an average price target of $26.00.

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Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Fund Resources Investment Holding Group Co Ltd bought a new position in Bitdeer Technologies Group in the fourth quarter valued at $102,732,000. Bank of America Corp DE lifted its stake 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 worth $27,919,000 after purchasing an additional 3,007,523 shares during the last quarter. Value Aligned Research Advisors LLC boosted its holdings in Bitdeer Technologies Group by 137.0% during 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 acquiring an additional 1,888,825 shares during the period. Situational Awareness LP grew its position in Bitdeer Technologies Group by 92.4% during the 1st 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 last quarter. Finally, Van ECK Associates Corp lifted its position in Bitdeer Technologies Group by 100.1% in the fourth quarter. Van ECK Associates Corp now owns 1,694,193 shares of the company’s stock valued at $18,992,000 after purchasing an additional 847,486 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors.

Bitdeer Technologies Group Stock Performance

The stock has a market cap of $2.61 billion, a PE ratio of -3.21 and a beta of 2.50. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.85 and a quick ratio of 1.11. The business has a 50 day moving average price of $14.81 and a two-hundred day moving average price of $12.43.

Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share (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 analysts’ expectations of $184.02 million. During the same quarter in the previous year, the firm posted ($0.37) EPS. Bitdeer Technologies Group’s revenue was up 169.5% compared to the same quarter last year. As a group, equities research analysts forecast that Bitdeer Technologies Group will post -1.54 EPS for the current fiscal year.

About Bitdeer Technologies Group

(Get Free Report)

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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