Benchmark Issues Pessimistic Forecast for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Key Points

• Benchmark lowered Bitdeer’s price target from $27 to $22 but maintained a “buy” rating, implying approximately 101% upside from the stock’s prior close.
• Analyst sentiment remains positive overall: 11 analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus rating and a $25.55 average target.
• Bitdeer shares traded at $10.93, while the company’s latest quarter showed a larger-than-expected loss of $0.68 per share despite revenue rising 169.5% year over year to $188.93 million.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price objective decreased by equities research analysts at Benchmark from $27.00 to $22.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price objective would indicate a potential upside of 101.37% from the company's previous close.

Other equities analysts also recently issued reports about the company. Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $19.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday. Citizens Jmp began coverage on shares of Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a "market outperform" rating and a $35.00 price target on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of 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. B. Riley Financial raised their target price on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Finally, Rosenblatt Securities raised their price objective on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.55.

Bitdeer Technologies Group Price Performance

BTDR traded down $0.14 on Thursday, hitting $10.93. 3,372,380 shares of the company were exchanged, compared to its average volume of 8,820,651. The business's fifty day moving average is $14.81 and its 200 day moving average is $12.43. The firm has a market capitalization of $2.57 billion, a P/E ratio of -3.15 and a beta of 2.50. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The firm had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.02 million. During the same period in the prior year, the firm posted ($0.37) earnings per share. The business's revenue for the quarter was up 169.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.54 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of large investors have recently added to or reduced their stakes in the company. Situational Awareness LP grew its stake in shares of Bitdeer Technologies Group by 92.4% during the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company's stock worth $29,751,000 after acquiring an additional 1,651,450 shares in the last quarter. Bank of Nova Scotia boosted its position in Bitdeer Technologies Group by 91.1% during the first quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company's stock valued at $11,846,000 after purchasing an additional 652,874 shares during the last quarter. Fund Resources Investment Holding Group Co Ltd bought a new stake in Bitdeer Technologies Group during the fourth quarter worth $102,732,000. UBS Group AG grew its holdings in Bitdeer Technologies Group by 2.4% during the fourth quarter. UBS Group AG now owns 2,246,381 shares of the company's stock worth $25,182,000 after purchasing an additional 52,808 shares during the period. Finally, CastleKnight Management LP increased its holdings in shares of Bitdeer Technologies Group by 14.8% in the fourth quarter. CastleKnight Management LP now owns 2,095,116 shares of the company's stock valued at $23,486,000 after purchasing an additional 269,875 shares during the last quarter. 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.

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