Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 6.5% - Time to Sell?

Key Points

• Bitdeer Technologies Group shares fell 6.5% on Thursday, trading as low as $11.90 before ending near $11.75, while volume was far below average.
• Analyst sentiment remains mixed but mostly positive: several firms raised price targets and ten analysts rate the stock a Buy, giving it a consensus target price of $25.45.
• The company recently reported better-than-expected revenue of $188.93 million, but earnings missed estimates, and it remains unprofitable with negative margins and a full-year EPS loss expected.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s share price dropped 6.5% on Thursday . The company traded as low as $11.90 and last traded at $11.7470. Approximately 343,272 shares were traded during trading, a decline of 96% from the average session volume of 8,567,434 shares. The stock had previously closed at $12.57.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Rosenblatt Securities increased their target price on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Weiss Ratings upgraded shares of Bitdeer Technologies Group from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. B. Riley Financial increased their target price 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. 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. Finally, Cantor Fitzgerald upped their price target on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a "neutral" rating in a report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.45.

Bitdeer Technologies Group Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88. The firm has a 50 day moving average of $15.63 and a 200-day moving average of $12.52. The company has a market cap of $2.72 billion, a P/E ratio of -3.35 and a beta of 2.47.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The company had revenue of $188.93 million for the quarter, compared to analysts' expectations of $184.02 million. During the same quarter in the prior year, the company earned ($0.37) EPS. The firm's quarterly revenue was up 169.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. First Trust Advisors LP boosted its position in shares of Bitdeer Technologies Group by 2.2% in the 3rd quarter. First Trust Advisors LP now owns 40,138 shares of the company's stock worth $686,000 after purchasing an additional 878 shares in the last quarter. GAMMA Investing LLC raised its position 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 purchasing an additional 902 shares during the last quarter. Public Employees Retirement System of Ohio boosted 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. grew its position in Bitdeer Technologies Group by 1.3% during the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company's stock worth $1,791,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Invesco Ltd. grew its position in Bitdeer Technologies Group by 3.7% during the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company's stock worth $806,000 after purchasing an additional 2,597 shares during the last quarter. Hedge funds and other 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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