Bitdeer Technologies Group (NASDAQ:BTDR) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a report published on Wednesday morning,Benzinga reports. They currently have a $18.00 price target on the stock.

Several other equities analysts have also recently weighed in on BTDR. HC Wainwright reduced their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $14.00 target price (down from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. UBS Group reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Finally, BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.60.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $8.71 on Wednesday. The firm’s 50 day moving average is $10.87 and its 200 day moving average is $13.96. The stock has a market capitalization of $1.84 billion, a P/E ratio of -2.77 and a beta of 2.40. Bitdeer Technologies Group has a 12 month low of $6.84 and a 12 month high of $27.80. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28.

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

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its stake in Bitdeer Technologies Group by 3.7% during the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock valued at $806,000 after buying an additional 2,597 shares during the period. Vident Advisory LLC increased its stake in Bitdeer Technologies Group by 39.3% in the 4th quarter. Vident Advisory LLC now owns 1,186,662 shares of the company’s stock worth $13,302,000 after acquiring an additional 334,548 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $34,000. Vennlight Capital Management LP purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $1,030,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $604,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.