Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Down 5.9% - Should You Sell?

Key Points

• Shares fell 5.9% to about $11.87 on Thursday, with trading volume (~577,579 shares) down roughly 93% versus the average and a market capitalization near $2.6 billion.
• Analysts have cut ratings and price targets recently, but the consensus remains a “Moderate Buy” with a consensus target price of $24.20.
• In the latest quarter Bitdeer missed EPS (loss of $0.73 vs. -$0.14 expected) despite a revenue beat of $224.8M and 225.8% YoY revenue growth; the company shows a negative PE (-3.90) and a 50-day moving average below its 200-day average.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s share price was down 5.9% during trading on Thursday . The stock traded as low as $12.02 and last traded at $11.8660. Approximately 577,579 shares changed hands during trading, a decline of 93% from the average daily volume of 7,739,452 shares. The stock had previously closed at $12.61.

Analyst Ratings Changes

BTDR has been the topic of a number of research reports. Needham & Company LLC dropped their price target on Bitdeer Technologies Group from $30.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Cantor Fitzgerald downgraded Bitdeer Technologies Group from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $20.00 to $10.00 in a research note on Thursday, April 9th. Zacks Research downgraded Bitdeer Technologies Group from a "hold" rating to a "strong sell" rating in a research note on Monday, March 16th. Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, March 18th. Finally, HC Wainwright dropped their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.20.

Bitdeer Technologies Group Trading Down 2.7%

The stock has a market capitalization of $2.60 billion, a PE ratio of -3.90 and a beta of 2.28. The firm has a 50 day moving average price of $9.19 and a 200 day moving average price of $13.16. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.28.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.59). The company had revenue of $224.84 million during the quarter, compared to analysts' expectations of $208.25 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.Bitdeer Technologies Group's revenue was up 225.8% compared to the same quarter last year. Equities analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its position in shares of Bitdeer Technologies Group by 3.7% during the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company's stock valued at $806,000 after acquiring an additional 2,597 shares during the last quarter. Vident Advisory LLC increased its position in shares of Bitdeer Technologies Group by 39.3% during the fourth quarter. Vident Advisory LLC now owns 1,186,662 shares of the company's stock valued at $13,302,000 after acquiring an additional 334,548 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $34,000. Vennlight Capital Management LP purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $1,030,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $604,000. 22.25% of the stock is owned by hedge funds and other 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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