Bitdeer Technologies Group (NASDAQ:BTDR) Insider Buys 25,000 Shares of Stock

Key Points

• Bitdeer insider Haris Fozan Basit purchased 25,000 shares at an average price of $8.84, investing $221,000 and increasing his holdings to 35,000 shares.
• Bitdeer reported a quarterly loss of $0.37 per share on $228.78 million in revenue, with negative profitability metrics and analysts forecasting a full-year loss of $1.54 per share.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $24.82, although some firms recently lowered their targets.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) insider Haris Fozan Basit bought 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $8.84 per share, with a total value of $221,000.00. Following the purchase, the insider owned 35,000 shares of the company's stock, valued at $309,400. The trade was a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $9.13 on Monday. The firm has a market capitalization of $2.08 billion, a P/E ratio of -2.98 and a beta of 2.50. Bitdeer Technologies Group has a 52 week low of $6.92 and a 52 week high of $27.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. The firm's 50 day moving average is $13.53 and its two-hundred day moving average is $12.16.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.37) earnings per share for the quarter. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%.The company had revenue of $228.78 million for the quarter. Research analysts forecast that Bitdeer Technologies Group will post -1.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BTDR. Wall Street Zen cut shares of Bitdeer Technologies Group from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 2nd. B. Riley Financial dropped their price objective on Bitdeer Technologies Group from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday. Needham & Company LLC reduced their target price on Bitdeer Technologies Group from $22.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Cantor Fitzgerald raised Bitdeer Technologies Group from a "neutral" rating to an "overweight" rating and upped their target price for the company from $15.00 to $18.00 in a research report on Wednesday, August 5th. Finally, Citizens Jmp started coverage on Bitdeer Technologies Group in a research note on Wednesday, June 24th. They set a "market outperform" rating and a $35.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Bitdeer Technologies Group presently has an average rating of "Moderate Buy" and an average target price of $24.82.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Situational Awareness LP raised its stake in shares of Bitdeer Technologies Group by 92.4% during the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company's stock worth $29,751,000 after purchasing an additional 1,651,450 shares during the last quarter. Bank of Nova Scotia grew its position in Bitdeer Technologies Group by 91.1% in the 1st quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company's stock valued at $11,846,000 after buying an additional 652,874 shares during the last quarter. Bank of America Corp DE increased its stake in Bitdeer Technologies Group by 1,366.7% in the 1st quarter. Bank of America Corp DE now owns 3,227,585 shares of the company's stock valued at $27,919,000 after buying an additional 3,007,523 shares during the period. Renaissance Technologies LLC acquired a new position in Bitdeer Technologies Group in the 1st quarter valued at $2,048,000. Finally, Fund Resources Investment Holding Group Co Ltd purchased a new position in Bitdeer Technologies Group during the 4th quarter worth $102,732,000. 22.25% of the stock is 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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