Cantor Fitzgerald Upgrades Bitdeer Technologies Group (NASDAQ:BTDR) to "Overweight"

Key Points

• Cantor Fitzgerald upgraded Bitdeer Technologies Group to “overweight” from “neutral” and set an $18 price target, implying roughly 58% upside from the stock’s current price.
• Analyst sentiment is broadly positive: Bitdeer has a consensus “Moderate Buy” rating and an average price target of $26, although individual targets range from $14 to $35.
• Bitdeer’s latest quarter showed revenue growth of 169.5% year over year to $188.93 million, but it missed on earnings with a $0.68 per-share loss and reported a negative 68.11% net margin.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald from a "neutral" rating to an "overweight" rating in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a $18.00 price target on the stock. Cantor Fitzgerald's price target suggests a potential upside of 58.17% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC increased their price target on shares of Bitdeer Technologies Group from $19.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday. Weiss Ratings upgraded shares of Bitdeer Technologies Group from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a "sell" rating to a "strong sell" rating in a report on Saturday, May 2nd. Keefe, Bruyette & Woods cut their price objective on shares of Bitdeer Technologies Group from $17.00 to $14.00 and set a "market perform" rating on the stock in a research note on Tuesday, July 28th. Finally, Citizens Jmp assumed coverage on shares of Bitdeer Technologies Group in a report on Wednesday, June 24th. They set a "market outperform" rating and a $35.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.00.

Bitdeer Technologies Group Stock Up 0.1%

Bitdeer Technologies Group stock opened at $11.38 on Wednesday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. The business's 50-day simple moving average is $14.90 and its two-hundred day simple moving average is $12.46. The company has a market cap of $2.68 billion, a PE ratio of -3.30 and a beta of 2.50. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last announced its quarterly earnings data 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 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 analyst estimates of $184.02 million. During the same period in the prior year, the company posted ($0.37) earnings per share. The firm's revenue for the quarter was up 169.5% on a year-over-year basis. Equities analysts anticipate that Bitdeer Technologies Group will post -1.54 EPS for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of Bitdeer Technologies Group by 57.3% in the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company's stock worth $39,000 after acquiring an additional 902 shares during the period. Empowered Funds LLC acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $34,000. Kestra Advisory Services LLC purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $39,000. FNY Investment Advisers LLC purchased a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at about $66,000. Finally, Hollencrest Capital Management acquired a new position in Bitdeer Technologies Group in the 1st quarter worth about $43,000. 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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