Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 7.6% - What's Next?

Key Points

• Bitdeer Technologies Group shares rose 7.6% on Monday, trading as high as $11.60 after closing at $10.74 the previous day, though volume was far below average.
• Wall Street sentiment has improved modestly, with several firms raising price targets or upgrading ratings; the stock now carries a consensus Moderate Buy and an average price target of $25.45.
• Recent fundamentals were mixed: Bitdeer beat revenue estimates with $188.93 million in quarterly sales, but missed earnings expectations and remains unprofitable, with analysts projecting a loss for the current fiscal year.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock price was up 7.6% during trading on Monday . The company traded as high as $11.60 and last traded at $11.56. 575,251 shares traded hands during trading, a decline of 93% from the average session volume of 8,548,727 shares. The stock had previously closed at $10.74.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BTDR. Cantor Fitzgerald lifted their price target on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a "neutral" rating in a report on Friday, May 15th. Zacks Research upgraded Bitdeer Technologies Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Needham & Company LLC upped their target price 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. Weiss Ratings upgraded Bitdeer Technologies Group from a "sell (d-)" rating to a "hold (c-)" rating in a report on Monday, May 18th. Finally, Wall Street Zen lowered shares of Bitdeer Technologies Group from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 2nd. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.45.

Bitdeer Technologies Group Trading Up 6.2%

The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -3.31 and a beta of 2.47. The business has a 50-day moving average of $15.52 and a two-hundred day moving average of $12.52. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) EPS 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 firm had revenue of $188.93 million during the quarter, compared to analyst estimates of $184.02 million. During the same period last year, the company earned ($0.37) EPS. The company's revenue was up 169.5% on a year-over-year basis. Research analysts predict that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BTDR. GAMMA Investing LLC increased its stake in Bitdeer Technologies Group by 57.3% in 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. Empowered Funds LLC bought a new position in Bitdeer Technologies Group during the fourth quarter worth about $34,000. Kestra Advisory Services LLC acquired a new stake in Bitdeer Technologies Group during the fourth quarter valued at approximately $39,000. FNY Investment Advisers LLC acquired a new stake in Bitdeer Technologies Group during the second quarter valued at approximately $66,000. Finally, Hollencrest Capital Management bought a new stake in shares of Bitdeer Technologies Group in the 1st quarter valued at approximately $43,000. 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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