Keefe, Bruyette & Woods Lowers Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $14.00

Key Points

• Keefe, Bruyette & Woods lowered Bitdeer Technologies Group’s price target from $17 to $14 while maintaining a “market perform” rating, implying about 35% upside from the reported $10.35 share price.
• Analyst sentiment remains broadly positive: Bitdeer has a “Moderate Buy” consensus rating and an average price target of $25.45, supported by 10 Buy ratings and four Hold ratings.
• Bitdeer reported quarterly revenue of $188.93 million, up 169.5% year over year and above estimates, but its $0.68 per-share loss missed expectations; the company continues to report substantial negative margins and return on equity.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its target price lowered by equities researchers at Keefe, Bruyette & Woods from $17.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 35.33% from the company's current price.

Other research analysts have also issued reports about the stock. 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. Zacks Research upgraded shares of Bitdeer Technologies Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. B. Riley Financial raised their price target on Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Cantor Fitzgerald boosted their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, May 15th. Finally, Citizens Jmp initiated coverage on Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a "market outperform" rating and a $35.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bitdeer Technologies Group has a consensus rating of "Moderate Buy" and an average target price of $25.45.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock traded down $1.00 during trading on Tuesday, reaching $10.35. The company had a trading volume of 7,411,073 shares, compared to its average volume of 8,507,588. The firm's 50 day simple moving average is $15.34 and its two-hundred day simple moving average is $12.53. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.85 and a quick ratio of 1.11. Bitdeer Technologies Group has a one year low of $6.92 and a one year high of $27.80. The company has a market capitalization of $2.44 billion, a PE ratio of -3.00 and a beta of 2.47.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last announced its 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). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The company had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. During the same period in the previous year, the company earned ($0.37) EPS. The firm's revenue for the quarter was up 169.5% compared to the same quarter last year. Sell-side analysts forecast that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC bought a new position in Bitdeer Technologies Group during the fourth quarter valued at about $34,000. GAMMA Investing LLC raised its stake 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 valued at $39,000 after purchasing an additional 902 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at $39,000. Hollencrest Capital Management bought a new position in Bitdeer Technologies Group in the first quarter worth $43,000. Finally, FNY Investment Advisers LLC bought a new position in Bitdeer Technologies Group in the second quarter worth $66,000. 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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