Bitdeer Technologies Group (NASDAQ:BTDR) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Bitdeer reported a quarterly EPS loss of $0.37, missing analysts’ estimate of a $0.36 loss by $0.01. Revenue reached $228.78 million, narrowly exceeding expectations of $228.67 million.
• The company posted weak profitability metrics, including a negative 69.95% return on equity and a negative 68.11% net margin.
• Analyst sentiment remains mixed but leans positive: Bitdeer has a consensus “Moderate Buy” rating and an average price target of $25.55, while its shares opened at $10.88 and institutional investors own 22.25% of the stock.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.01), FiscalAI reports. 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 $228.78 million during the quarter, compared to analysts' expectations of $228.67 million.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $10.88 on Monday. The company has a market capitalization of $2.56 billion, a P/E ratio of -3.15 and a beta of 2.50. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. The stock has a 50 day moving average price of $14.52 and a two-hundred day moving average price of $12.35.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Bitdeer Technologies Group by 67.5% during the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company's stock valued at $72,753,000 after buying an additional 2,553,093 shares during the period. Value Aligned Research Advisors LLC lifted its stake in Bitdeer Technologies Group by 137.0% in the fourth quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company's stock worth $36,630,000 after acquiring an additional 1,888,825 shares during the period. Van ECK Associates Corp boosted its holdings in Bitdeer Technologies Group by 100.1% in the fourth quarter. Van ECK Associates Corp now owns 1,694,193 shares of the company's stock valued at $18,992,000 after acquiring an additional 847,486 shares in the last quarter. State Street Corp boosted its holdings in Bitdeer Technologies Group by 34.1% in the fourth quarter. State Street Corp now owns 3,144,782 shares of the company's stock valued at $35,253,000 after acquiring an additional 800,003 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Bitdeer Technologies Group by 5,771.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company's stock valued at $8,700,000 after purchasing an additional 744,956 shares during the period. 22.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Bitdeer Technologies Group from a "sell" rating to a "strong sell" rating in a report on Saturday, May 2nd. Rosenblatt Securities lifted their price objective on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Keefe, Bruyette & Woods cut their target price 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. Cantor Fitzgerald raised Bitdeer Technologies Group from a "neutral" rating to an "overweight" rating and increased their target price for the company from $15.00 to $18.00 in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded Bitdeer Technologies Group from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.55.

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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