Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 17.4% - Time to Buy?

Key Points

• Bitdeer shares jumped 17.4% to about $10.45, although trading volume was 69% below the stock’s average daily volume.
• Analysts maintain a “Moderate Buy” consensus, with 10 Buy ratings and four Holds and an average price target of $25.45, well above the recent share price.
• The company’s revenue rose 169.5% year over year to $188.9 million, but it missed EPS estimates and continues to report significant losses, including a negative net margin of 68.11% and projected full-year EPS of -$1.18.

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) were up 17.4% on Thursday . The company traded as high as $10.76 and last traded at $10.4480. Approximately 2,671,397 shares were traded during trading, a decline of 69% from the average daily volume of 8,587,749 shares. The stock had previously closed at $8.90.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BTDR. 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 report on Friday, May 15th. Zacks Research raised shares of Bitdeer Technologies Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 2nd. Keefe, Bruyette & Woods dropped their price objective on Bitdeer Technologies Group from $17.00 to $14.00 and set a "market perform" rating on the stock in a report on Tuesday. Finally, Rosenblatt Securities lifted their target price on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.45.

Bitdeer Technologies Group Price Performance

The company has a market capitalization of $2.59 billion, a PE ratio of -3.20 and a beta of 2.47. The company's 50-day simple moving average is $15.20 and its 200-day simple moving average is $12.50. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.21). The company had revenue of $188.93 million for the quarter, compared to analysts' expectations of $184.02 million. Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The business's quarterly revenue was up 169.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.37) EPS. As a group, sell-side analysts anticipate 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 have recently bought and sold shares of the stock. Situational Awareness LP boosted its stake in shares of Bitdeer Technologies Group by 92.4% during the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company's stock valued at $29,751,000 after acquiring an additional 1,651,450 shares during the last quarter. Bank of Nova Scotia increased its stake in Bitdeer Technologies Group by 91.1% in the first quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company's stock valued at $11,846,000 after purchasing an additional 652,874 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Bitdeer Technologies Group during the third quarter worth about $6,792,000. SG Americas Securities LLC grew its holdings in Bitdeer Technologies Group by 144.3% in the 4th quarter. SG Americas Securities LLC now owns 156,724 shares of the company's stock valued at $1,757,000 after buying an additional 92,563 shares during the period. Finally, Fund Resources Investment Holding Group Co Ltd acquired a new position in Bitdeer Technologies Group during the fourth quarter worth approximately $102,732,000. 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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