Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) was up 15.5% during mid-day trading on Wednesday . The stock traded as high as $14.37 and last traded at $14.4150. Approximately 7,700,227 shares were traded during trading, an increase of 2% from the average daily volume of 7,542,185 shares. The stock had previously closed at $12.48.
Analyst Ratings Changes
A number of brokerages have weighed in on BTDR. HC Wainwright dropped their target price on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Rosenblatt Securities reiterated a "buy" rating and set a $18.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, March 18th. Zacks Research lowered shares of Bitdeer Technologies Group from a "hold" rating to a "strong sell" rating in a research report on Monday, March 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bitdeer Technologies Group in a research report on Monday, April 20th. Finally, Benchmark reduced their target price on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of "Moderate Buy" and an average price target of $24.20.
Check Out Our Latest Analysis on BTDR
Bitdeer Technologies Group Price Performance
The stock's 50-day moving average price is $9.55 and its 200-day moving average price is $12.47. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of -4.81 and a beta of 2.32. 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 posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.59). The business had revenue of $224.84 million for the quarter, compared to the consensus estimate 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 for the quarter was up 225.8% compared to the same quarter last year. Equities research analysts anticipate that Bitdeer Technologies Group will post -0.83 earnings per share for the current year.
Institutional Investors Weigh In On Bitdeer Technologies Group
A number of institutional investors and hedge funds have recently modified their holdings of BTDR. Bank of New York Mellon Corp boosted its position in shares of Bitdeer Technologies Group by 15.7% in the 1st quarter. Bank of New York Mellon Corp now owns 300,136 shares of the company's stock worth $2,596,000 after purchasing an additional 40,764 shares during the last quarter. Fifth Third Bancorp bought a new stake in Bitdeer Technologies Group in the first quarter valued at about $132,000. Leonteq Securities AG acquired a new position in Bitdeer Technologies Group in the first quarter valued at about $72,000. Fund Resources Investment Holding Group Co Ltd boosted its holdings in Bitdeer Technologies Group by 3.0% during the first quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company's stock worth $81,660,000 after buying an additional 276,098 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Bitdeer Technologies Group by 3.7% during the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company's stock worth $806,000 after buying an additional 2,597 shares during the last quarter. 22.25% of the stock is owned by institutional investors.
About Bitdeer Technologies Group
(
Get Free Report)
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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