Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up - Time to Buy?

Key Points

• Bitdeer shares jumped 7.8%, opening at $12.79 after closing at $11.37, with trading volume exceeding 7.1 million shares.
• Analyst sentiment is broadly positive, with 10 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $25.45, although some analysts recently lowered targets or downgraded the stock.
• The company’s latest quarter showed strong revenue growth of 169.5% to $188.93 million, but it missed the EPS estimate and reported a $0.68 per-share loss, alongside sharply negative net margin and return on equity.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $11.37, but opened at $12.79. Bitdeer Technologies Group shares last traded at $12.2150, with a volume of 7,140,133 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BTDR shares. Wall Street Zen cut shares of Bitdeer Technologies Group from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 2nd. Keefe, Bruyette & Woods cut their price target on Bitdeer Technologies Group from $17.00 to $14.00 and set a "market perform" rating for the company in a report on Tuesday, July 28th. Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Cantor Fitzgerald boosted their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a "neutral" rating in a research report on Friday, May 15th. Finally, B. Riley Financial upped their target price on Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bitdeer Technologies Group currently has an average rating of "Moderate Buy" and a consensus target price of $25.45.

Bitdeer Technologies Group Trading Up 7.8%

The company's 50-day moving average is $14.98 and its 200-day moving average is $12.48. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -3.57 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 (NASDAQ:BTDR - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The company had revenue of $188.93 million during the quarter, compared to analyst estimates of $184.02 million. During the same quarter in the previous year, the business posted ($0.37) EPS. The company's revenue was up 169.5% compared to the same quarter last year. On average, research analysts predict that Bitdeer Technologies Group will post -1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at $34,000. GAMMA Investing LLC lifted its stake in shares of Bitdeer Technologies Group by 57.3% during the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company's stock valued at $39,000 after acquiring an additional 902 shares during the period. Kestra Advisory Services LLC bought a new position in Bitdeer Technologies Group in the fourth quarter valued at about $39,000. Hollencrest Capital Management bought a new position in Bitdeer Technologies Group in the first quarter valued at about $43,000. Finally, FNY Investment Advisers LLC acquired a new stake in Bitdeer Technologies Group in the second quarter worth about $66,000. 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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