Bitdeer Technologies Group (NASDAQ:BTDR) Given New $27.00 Price Target at Benchmark

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target decreased by Benchmark from $38.00 to $27.00 in a research note published on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. BTIG Research reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Needham & Company LLC increased their price objective on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. Roth Mkm restated a “buy” rating and set a $40.00 price objective on shares of Bitdeer Technologies Group in a research report on Wednesday, October 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $14.00 target price (down previously from $26.50) on shares of Bitdeer Technologies Group in a report on Tuesday, January 27th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.90.

Bitdeer Technologies Group Stock Performance

BTDR opened at $12.20 on Tuesday. The business’s 50-day simple moving average is $12.35 and its 200 day simple moving average is $14.84. Bitdeer Technologies Group has a 52-week low of $6.84 and a 52-week high of $27.80. 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 capitalization of $2.58 billion, a PE ratio of -2.17 and a beta of 2.33.

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

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Bitdeer Technologies Group by 197.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock worth $18,280,000 after buying an additional 1,057,552 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $1,355,000. Harvest Portfolios Group Inc. increased its position in shares of 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 acquiring an additional 27,891 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in Bitdeer Technologies Group during the 2nd quarter valued at about $3,255,000. Finally, Intech Investment Management LLC purchased a new position in shares of Bitdeer Technologies Group during the second quarter valued at approximately $501,000. 22.25% of the stock is owned by institutional investors.

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.