Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up Following Insider Buying Activity

Key Points

• Bitdeer shares opened higher at $9.58 after closing at $9.13, following insider purchases by director Haris Fozan Basit and CFO Michael G. Potter totaling 50,000 shares and approximately $447,000.
• Analyst sentiment is mixed but leans positive: 11 analysts rate BTDR a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and a $24.82 average price target.
• The company remains unprofitable, reporting a quarterly loss of $0.37 per share, a negative 55.15% net margin, and a negative 54.72% return on equity; analysts forecast a full-year loss of $1.54 per share.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $9.13, but opened at $9.58. Bitdeer Technologies Group shares last traded at $9.4320, with a volume of 2,650,720 shares changing hands.

Specifically, insider Haris Fozan Basit bought 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $8.84 per share, with a total value of $221,000.00. Following the completion of the transaction, the insider owned 35,000 shares in the company, valued at approximately $309,400. This trade represents a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael G. Potter purchased 25,000 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $9.04 per share, for a total transaction of $226,000.00. Following the completion of the transaction, the chief financial officer directly owned 25,000 shares in the company, valued at approximately $226,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Ratings Changes

Several brokerages have recently weighed in on BTDR. Wall Street Zen cut Bitdeer Technologies Group from a "sell" rating to a "strong sell" rating in a report on Saturday, May 2nd. Citizens Jmp initiated coverage on Bitdeer Technologies Group in a research report on Wednesday, June 24th. They set a "market outperform" rating and a $35.00 price target on the stock. Zacks Research raised shares of Bitdeer Technologies Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Keefe, Bruyette & Woods cut their price target on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a "market perform" rating for the company in a research note on Thursday. Finally, Benchmark restated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group currently has an average rating of "Moderate Buy" and an average target price of $24.82.

Bitdeer Technologies Group Price Performance

The business has a fifty day moving average of $13.53 and a two-hundred day moving average of $12.16. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -3.07 and a beta of 2.50.

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

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently modified their holdings of the stock. First Trust Advisors LP grew its holdings in Bitdeer Technologies Group by 2.2% in the 3rd quarter. First Trust Advisors LP now owns 40,138 shares of the company's stock valued at $686,000 after buying an additional 878 shares in the last quarter. GAMMA Investing LLC increased its position 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 acquiring an additional 902 shares during the period. Public Employees Retirement System of Ohio raised its stake in Bitdeer Technologies Group by 5.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company's stock worth $355,000 after purchasing an additional 1,100 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Bitdeer Technologies Group by 1.3% in the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company's stock valued at $1,791,000 after purchasing an additional 1,307 shares during the period. Finally, Invesco Ltd. boosted its holdings in Bitdeer Technologies Group by 3.7% in the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company's stock valued at $806,000 after purchasing an additional 2,597 shares during the period. 22.25% of the stock is owned by institutional investors.

About Bitdeer Technologies Group

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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