B. Riley Financial Issues Pessimistic Forecast for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Key Points

• B. Riley Financial lowered its Bitdeer Technologies price target from $23 to $21 but maintained a “buy” rating, implying 132.82% upside from the previous close.
• Analyst sentiment remains broadly positive: 11 analysts rate BTDR a “buy” and three rate it a “hold,” producing a “Moderate Buy” consensus and an average price target of $25.18.
• Bitdeer reported a quarterly loss of $0.37 per share on $228.78 million in revenue, while CFO Michael G. Potter purchased 25,000 shares at an average price of $9.04.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its target price cut by investment analysts at B. Riley Financial from $23.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's price target would indicate a potential upside of 132.82% from the stock's previous close.

BTDR has been the topic of a number of other reports. Weiss Ratings upgraded shares of Bitdeer Technologies Group from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Needham & Company LLC reduced their price objective on shares of Bitdeer Technologies Group from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday. Wall Street Zen downgraded Bitdeer Technologies Group from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 2nd. Keefe, Bruyette & Woods cut their price objective on Bitdeer Technologies Group from $17.00 to $14.00 and set a "market perform" rating for the company in a research report on Tuesday, July 28th. Finally, Rosenblatt Securities upped their price target on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.18.

Bitdeer Technologies Group Stock Performance

BTDR opened at $9.02 on Thursday. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The firm's 50-day moving average price is $13.91 and its 200 day moving average price is $12.24. The firm has a market capitalization of $2.12 billion, a PE ratio of -2.95 and a beta of 2.50.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. Bitdeer Technologies Group had a negative return on equity of 61.88% and a negative net margin of 55.15%.The firm had revenue of $228.78 million for the quarter. As a group, sell-side analysts expect that Bitdeer Technologies Group will post -1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael G. Potter purchased 25,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $9.04 per share, with a total value of $226,000.00. Following the completion of the transaction, the chief financial officer owned 25,000 shares in the company, valued at approximately $226,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of BTDR. Empowered Funds LLC acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth approximately $34,000. GAMMA Investing LLC grew its stake in Bitdeer Technologies Group by 57.3% during the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company's stock worth $39,000 after buying an additional 902 shares during the period. Kestra Advisory Services LLC purchased a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $39,000. Hollencrest Capital Management acquired a new stake in shares of Bitdeer Technologies Group in the first quarter worth $43,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at $66,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.

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