Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Time to Buy?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped up prior to trading on Friday . The stock had previously closed at $11.01, but opened at $11.98. Bitdeer Technologies Group shares last traded at $12.1890, with a volume of 334,730 shares changing hands.

Analyst Ratings Changes

A number of brokerages have issued reports on BTDR. Cantor Fitzgerald cut their price objective on Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Monday, October 20th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $14.00 price objective (down from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. B. Riley Financial dropped their price objective on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Finally, Roth Mkm reiterated a “buy” rating and issued a $40.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday, October 15th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.39.

Bitdeer Technologies Group Stock Up 14.4%

The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -2.24 and a beta of 2.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.90. The firm’s 50-day simple moving average is $12.34 and its two-hundred day simple moving average is $14.87.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Monday, November 10th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($1.06). The company had revenue of $169.71 million for the quarter, compared to the consensus estimate of $151.80 million. Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. Bitdeer Technologies Group’s revenue for the quarter was up 173.7% compared to the same quarter last year. During the same period last year, the company earned ($0.35) earnings per share. On average, sell-side analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in BTDR. Fund Resources Investment Holding Group Co Ltd bought a new position in Bitdeer Technologies Group in the fourth quarter valued at about $102,732,000. Bank of America Corp DE raised its holdings in 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 last quarter. Azora Capital LP acquired a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $23,817,000. Geode Capital Management LLC boosted its stake in shares of Bitdeer Technologies Group by 197.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after purchasing an additional 1,057,552 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Bitdeer Technologies Group by 5,771.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company’s stock worth $8,700,000 after buying an additional 744,956 shares during the period. 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.