Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Key Points

• Needham raised Bitdeer’s price target from $19 to $22 and maintained a “Buy” rating, implying 87.65% upside from the previous close. Analysts collectively rate the stock “Moderate Buy,” with an average target of $25.73.
• Bitdeer shares rose 3.1% to $11.72, while trading volume reached 16.6 million shares—nearly twice its average volume. The stock has traded between $6.92 and $27.80 over the past year.
• The company reported quarterly revenue of $188.93 million, up 169.5% year over year and above estimates, but its adjusted loss of $0.68 per share missed expectations. Bitdeer continues to show significant profitability pressures, including a negative net margin of 68.11%.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its target price upped by equities researchers at Needham & Company LLC from $19.00 to $22.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price target indicates a potential upside of 87.65% from the company's previous close.

A number of other equities analysts also recently weighed in on the company. Citizens Jmp began coverage on Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a "market outperform" rating and a $35.00 target price on the stock. Zacks Research upgraded shares of Bitdeer Technologies Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Rosenblatt Securities boosted their price objective on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, May 15th. B. Riley Financial upped their price objective on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Finally, Cantor Fitzgerald upped their price objective on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a "neutral" rating in a research note on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $25.73.

Bitdeer Technologies Group Stock Up 3.1%

Shares of BTDR stock traded up $0.35 on Tuesday, reaching $11.72. 16,646,219 shares of the company's stock traded hands, compared to its average volume of 8,765,850. Bitdeer Technologies Group has a 12-month low of $6.92 and a 12-month 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 company has a market capitalization of $2.76 billion, a P/E ratio of -3.38 and a beta of 2.50. The business's 50 day moving average price is $14.98 and its two-hundred day moving average price is $12.48.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.02 million. During the same period in the previous year, the firm posted ($0.37) earnings per share. The firm's quarterly revenue was up 169.5% on a year-over-year basis. On average, equities analysts forecast that Bitdeer Technologies Group will post -1.54 earnings per share for the current year.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in BTDR. GAMMA Investing LLC raised its stake in shares of Bitdeer Technologies Group by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company's stock valued at $39,000 after acquiring an additional 902 shares in the last quarter. Empowered Funds LLC bought a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $39,000. FNY Investment Advisers LLC acquired a new position in Bitdeer Technologies Group during the second quarter valued at approximately $66,000. Finally, Hollencrest Capital Management acquired a new position in Bitdeer Technologies Group during the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 22.25% of the company's stock.

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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