Bitdeer Technologies Group (NASDAQ:BTDR) Cut to Neutral at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald downgraded Bitdeer (NASDAQ:BTDR) from "overweight" to "neutral" with a $10.00 price target, implying about a 3.5% downside from the current price.
• Despite that downgrade, the analyst consensus remains a "Moderate Buy" (9 Buys, 2 Holds, 2 Sells) with a consensus price target of $24.20, reflecting divergent views among brokers.
• In the latest quarter Bitdeer missed EPS (‑$0.73 vs. ‑$0.14 estimate) but reported revenue of $224.8M (beat expectations) and 225.8% YoY revenue growth; the stock trades near $10.36 with a 1‑year range of $6.84–$27.80.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) was downgraded by investment analysts at Cantor Fitzgerald from an "overweight" rating to a "neutral" rating in a note issued to investors on Thursday. They currently have a $10.00 price target on the stock. Cantor Fitzgerald's price target would indicate a potential downside of 3.47% from the company's current price.

Other equities analysts have also recently issued reports about the company. HC Wainwright reduced their target price 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. Rosenblatt Securities reissued a "buy" rating and set a $18.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday, March 18th. Needham & Company LLC reduced their target price on Bitdeer Technologies Group from $30.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. Finally, UBS Group reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.20.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $10.36 on Thursday. 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 firm has a 50-day moving average of $9.35 and a 200-day moving average of $13.36. The firm has a market cap of $2.19 billion, a P/E ratio of -3.30 and a beta of 2.28. Bitdeer Technologies Group has a 1-year low of $6.84 and a 1-year high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.59). The firm had revenue of $224.84 million for the quarter, compared to analysts' expectations of $208.25 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The company's quarterly revenue was up 225.8% compared to the same quarter last year. Sell-side analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently added to or reduced their stakes in BTDR. Great Lakes Advisors LLC purchased a new stake in shares of Bitdeer Technologies Group during the third quarter valued at $1,355,000. Tudor Investment Corp ET AL purchased a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $6,792,000. Neo Ivy Capital Management purchased a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $3,427,000. Keystone Investors PTE Ltd. purchased a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $7,844,000. Finally, Voya Investment Management LLC raised its holdings in shares of Bitdeer Technologies Group by 421.6% during the third quarter. Voya Investment Management LLC now owns 128,331 shares of the company's stock valued at $2,193,000 after purchasing an additional 103,730 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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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