Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Here’s Why

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped up before the market opened on Friday . The stock had previously closed at $7.34, but opened at $7.65. Bitdeer Technologies Group shares last traded at $7.99, with a volume of 1,049,689 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BTDR shares. UBS Group reiterated a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. 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. Benchmark reduced their price objective on shares of 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. HC Wainwright decreased their price objective on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, BTIG Research reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and an average target price of $26.60.

Bitdeer Technologies Group Stock Performance

The company has a 50-day moving average of $11.07 and a 200-day moving average of $14.07. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -2.39 and a beta of 2.40. 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 earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share 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 for the quarter, compared to the consensus estimate of $208.25 million. The company’s revenue for the quarter was up 225.8% compared to the same quarter last year. On average, equities research analysts forecast 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 business. Advisors Asset Management Inc. lifted its holdings 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 acquiring an additional 1,044 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC bought a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $39,000. Tower Research Capital LLC TRC grew its holdings in shares of Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $105,000. 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.