Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $18.00 at Rosenblatt Securities

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target cut by Rosenblatt Securities from $30.00 to $18.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. Needham & Company LLC lifted their price objective on Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Roth Mkm restated a “buy” rating and issued a $40.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, October 15th. HC Wainwright cut their target price on shares of Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, BTIG Research reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group has an average rating of “Moderate Buy” and a consensus target price of $27.60.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $13.27 on Monday. 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 has a market cap of $2.81 billion, a price-to-earnings ratio of -2.36 and a beta of 2.33. Bitdeer Technologies Group has a 52 week low of $6.84 and a 52 week high of $27.80. The firm’s 50-day simple moving average is $12.35 and its two-hundred day simple moving average is $14.85.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Monday, November 10th. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates 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%. The firm’s revenue was up 173.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.35) earnings per share. As a group, equities analysts forecast that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BTDR. Goldman Sachs Group Inc. boosted its holdings in Bitdeer Technologies Group by 167.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after purchasing an additional 302,548 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Bitdeer Technologies Group in the second quarter worth $129,000. Amalgamated Bank bought a new stake in Bitdeer Technologies Group during the second quarter valued at $35,000. Harvest Portfolios Group Inc. grew its position in Bitdeer Technologies Group by 76.3% during the second quarter. Harvest Portfolios Group Inc. now owns 64,469 shares of the company’s stock worth $740,000 after buying an additional 27,891 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Bitdeer Technologies Group in the 2nd quarter worth about $207,000. 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.