Bitdeer Technologies Group (NASDAQ:BTDR) Downgraded to Neutral Rating by Cantor Fitzgerald

Cantor Fitzgerald downgraded shares of Bitdeer Technologies Group (NASDAQ:BTDR) from an overweight rating to a neutral rating in a report issued on Thursday, MarketBeat reports. Cantor Fitzgerald currently has $10.00 price objective on the stock, down from their previous price objective of $20.00.

Several other equities analysts have also recently weighed in on BTDR. HC Wainwright dropped their price objective 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. Benchmark dropped their price objective on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. UBS Group restated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Thursday, February 12th. BTIG Research restated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $10.33 on Thursday. The company has a fifty day simple moving average of $9.29 and a 200 day simple moving average of $13.34. 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. The company has a market cap of $2.19 billion, a P/E ratio of -3.29 and a beta of 2.28.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group’s quarterly revenue was up 225.8% on a year-over-year basis. Sell-side analysts predict that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $1,355,000. Tudor Investment Corp ET AL bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $6,792,000. Neo Ivy Capital Management bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $3,427,000. Keystone Investors PTE Ltd. bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $7,844,000. Finally, Voya Investment Management LLC raised its stake in Bitdeer Technologies Group by 421.6% in the 3rd quarter. Voya Investment Management LLC now owns 128,331 shares of the company’s stock valued at $2,193,000 after acquiring an additional 103,730 shares during the period. 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.