Bitdeer Technologies Group (NASDAQ:BTDR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $26.60.

BTDR has been the subject of a number of recent analyst reports. BTIG Research restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. HC Wainwright reduced their target price on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. UBS Group reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. Benchmark lowered their target price on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Finally, Needham & Company LLC cut their price target on shares of Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, February 13th.

Bitdeer Technologies Group Stock Up 1.9%

Shares of NASDAQ BTDR opened at $7.42 on Tuesday. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80. The firm has a 50-day simple moving average of $11.36 and a two-hundred day simple moving average of $14.23. The company has a market cap of $1.57 billion, a P/E ratio of -2.36 and a beta of 2.40. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.75.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The business had revenue of $224.84 million for the quarter, compared to the consensus estimate of $208.25 million. The firm’s revenue for the quarter was up 225.8% compared to the same quarter last year. Research analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently added to or reduced their stakes in BTDR. First Trust Advisors LP increased its position in shares of Bitdeer Technologies Group by 2.2% during the third quarter. First Trust Advisors LP now owns 40,138 shares of the company’s stock worth $686,000 after acquiring an additional 878 shares during the period. Main Management ETF Advisors LLC boosted its holdings in shares of Bitdeer Technologies Group by 1.6% in the second quarter. Main Management ETF Advisors LLC now owns 57,153 shares of the company’s stock valued at $656,000 after purchasing an additional 924 shares during the period. Advisors Asset Management Inc. grew its stake in Bitdeer Technologies Group by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after purchasing an additional 1,044 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Bitdeer Technologies Group by 5.6% in the third quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock worth $355,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Bitdeer Technologies Group by 1.3% during the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock worth $1,791,000 after purchasing an additional 1,307 shares during the period. 22.25% of the stock is currently owned by institutional investors.

Bitdeer Technologies Group Company Profile

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.