Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 7.1% - Should You Sell?

Key Points

• Bitdeer Technologies Group stock fell 7.1% on Friday, trading as low as $13.38 after closing at $14.33 the prior day. Trading volume was also well below average, with about 1.93 million shares changing hands.
• Despite the drop, Wall Street sentiment remains broadly positive: 10 analysts rate BTDR a Buy, 4 rate it Hold, and the consensus price target is $25.45. Recent calls included price-target hikes from Cantor Fitzgerald, Needham, and B. Riley.
• The company’s latest earnings showed strong revenue growth but a wider-than-expected loss, with EPS of -$0.68 versus estimates of -$0.47 and revenue up 169.5% year over year to $188.93 million. Analysts currently expect full-year EPS of -1.18.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock price fell 7.1% on Friday . The company traded as low as $13.38 and last traded at $13.3130. Approximately 1,929,631 shares changed hands during trading, a decline of 78% from the average daily volume of 8,610,966 shares. The stock had previously closed at $14.33.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BTDR. Citizens Jmp started coverage on shares of Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a "market outperform" rating and a $35.00 price target for the company. Cantor Fitzgerald increased their price objective on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a "neutral" rating in a research note on Friday, May 15th. Needham & Company LLC raised their target price on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Weiss Ratings upgraded Bitdeer Technologies Group from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. 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 report on Friday, May 15th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Bitdeer Technologies Group has an average rating of "Moderate Buy" and a consensus target price of $25.45.

Bitdeer Technologies Group Stock Down 4.1%

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's 50-day moving average price is $15.62 and its 200 day moving average price is $12.48. The firm has a market cap of $3.24 billion, a P/E ratio of -3.99 and a beta of 2.47.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last issued 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 firm had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. During the same quarter in the prior year, the business earned ($0.37) earnings per share. The company's revenue for the quarter was up 169.5% compared to the same quarter last year. As a group, research analysts expect that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $34,000. GAMMA Investing LLC boosted its holdings in Bitdeer Technologies Group by 57.3% during the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company's stock worth $39,000 after buying an additional 902 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Bitdeer Technologies Group in the fourth quarter worth approximately $39,000. Hollencrest Capital Management acquired a new position in Bitdeer Technologies Group in the first quarter worth approximately $43,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Bitdeer Technologies Group in the second quarter valued at $66,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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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