Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 9.1% - Here's What Happened

Key Points

• Shares rose 9.1% on Tuesday to about $12.27, trading as high as $12.24 on roughly 2.04 million shares — down about 74% from its average daily volume.
• Analysts hold a consensus “Moderate Buy” with an average price target of $24.20, but several firms have recently cut targets and ratings remain mixed across the board.
• In its latest quarter Bitdeer missed EPS (‑$0.73 vs. ‑$0.14 expected) while revenue beat at $224.84 million, up 225.8% year‑over‑year.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock price was up 9.1% on Tuesday . The company traded as high as $12.24 and last traded at $12.2660. Approximately 2,035,010 shares traded hands during trading, a decline of 74% from the average daily volume of 7,732,267 shares. The stock had previously closed at $11.24.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BTDR shares. Rosenblatt Securities reissued a "buy" rating and set a $18.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, March 18th. Zacks Research lowered Bitdeer Technologies Group from a "hold" rating to a "strong sell" rating in a research note on Monday, March 16th. HC Wainwright dropped their price target on 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. Needham & Company LLC dropped their price target on Bitdeer Technologies Group from $30.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $14.00 price target (down from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.20.

Bitdeer Technologies Group Price Performance

The business has a 50 day moving average of $9.20 and a 200 day moving average of $13.20. The company has a market cap of $2.59 billion, a PE ratio of -3.89 and a beta of 2.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.75.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.59). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The business had revenue of $224.84 million during the quarter, compared to analysts' expectations of $208.25 million. The firm's revenue for the quarter was up 225.8% compared to the same quarter last year. As a group, research analysts predict that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Bitdeer Technologies Group by 3.7% in the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company's stock worth $806,000 after purchasing an additional 2,597 shares in the last quarter. Vident Advisory LLC raised its holdings in Bitdeer Technologies Group by 39.3% in the fourth quarter. Vident Advisory LLC now owns 1,186,662 shares of the company's stock worth $13,302,000 after purchasing an additional 334,548 shares in the last quarter. Empowered Funds LLC bought a new position in Bitdeer Technologies Group in the fourth quarter worth $34,000. Vennlight Capital Management LP bought a new position in Bitdeer Technologies Group in the fourth quarter worth $1,030,000. Finally, Engineers Gate Manager LP bought a new position in Bitdeer Technologies Group in the fourth quarter worth $604,000. Institutional investors 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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