Bitdeer Technologies Group (NASDAQ:BTDR) Shares Down 11% After Analyst Downgrade

Key Points

• Bitdeer shares fell 11% after Barclays cut its price target from $17 to $14, while maintaining an overweight rating.
• Third-quarter revenue rose 89% year over year to $320.75 million, beating expectations, but the company’s $0.46-per-share loss was wider than analysts’ $0.33 estimate.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $21.10, despite several recent target reductions.

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) traded down 11% during trading on Thursday after Barclays lowered their price target on the stock from $17.00 to $14.00. Barclays currently has an overweight rating on the stock. Bitdeer Technologies Group traded as low as $6.33 and last traded at $6.2580. 989,952 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 9,738,263 shares. The stock had previously closed at $7.03.

A number of other research firms also recently issued reports on BTDR. B. Riley Financial reduced their price objective on Bitdeer Technologies Group from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. Rosenblatt Securities reiterated a "buy" rating and set a $25.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, September 15th. Needham & Company LLC cut their target price on shares of Bitdeer Technologies Group from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday. Benchmark reissued a "buy" rating on shares of Bitdeer Technologies Group in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Bitdeer Technologies Group in a research report on Monday, October 26th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Bitdeer Technologies Group presently has an average rating of "Moderate Buy" and an average price target of $21.10.

Insider Buying and Selling at Bitdeer Technologies Group

In related news, insider Haris Basit purchased 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the acquisition, the insider owned 35,000 shares of the company's stock, valued at approximately $309,400. This represents a 250.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Key Headlines Impacting Bitdeer Technologies Group

Here are a few of the latest headlines about BTDR:

• Positive Sentiment: Third-quarter revenue rose 89% year over year to $320.7 million, above the roughly $258 million analyst consensus. The company also reported $7.6 billion in expected contracted AI-platform revenue, highlighting potential beyond crypto mining. Bitdeer: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Barclays and Needham lowered their price targets to $14 and $18, respectively, but kept their ratings at “overweight” and “buy.” The target cuts temper the positive ratings, while signaling the analysts still see upside potential.
• Negative Sentiment: Bitdeer reported a third-quarter loss of $0.46 per share, worse than the $0.33 loss analysts expected. Northland Securities also lowered its Q4 and full-year 2026 EPS estimates, reinforcing concerns that the company’s losses may persist despite strong sales growth. Bitdeer shares rise as Q3 revenue jumps 89% despite earnings miss

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Funde Sino Life Insurance Co Ltd purchased a new stake in shares of Bitdeer Technologies Group in the third quarter valued at $109,795,000. Situational Awareness LP boosted its stake in shares of Bitdeer Technologies Group by 92.4% during the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company's stock worth $29,751,000 after purchasing an additional 1,651,450 shares during the period. Bank of America Corp DE grew its holdings in Bitdeer Technologies Group by 1,366.7% during the 1st quarter. Bank of America Corp DE now owns 3,227,585 shares of the company's stock valued at $27,919,000 after purchasing an additional 3,007,523 shares during the last quarter. Yong Rong HK Asset Management Ltd bought a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $22,029,000. Finally, Bank of Nova Scotia raised its position in Bitdeer Technologies Group by 91.1% in the 1st quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company's stock worth $11,846,000 after purchasing an additional 652,874 shares during the period. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. The business has a 50 day simple moving average of $9.55 and a two-hundred day simple moving average of $11.39. The firm has a market cap of $1.45 billion, a PE ratio of -2.83 and a beta of 2.72.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last released its earnings results on Tuesday, November 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.13). The business had revenue of $320.75 million for the quarter, compared to the consensus estimate of $258.18 million. Bitdeer Technologies Group had a negative return on equity of 34.08% and a negative net margin of 31.84%. The firm's revenue for the quarter was up 89.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.28) earnings per share. As a group, equities research analysts forecast that Bitdeer Technologies Group will post -1.68 earnings per share for the current fiscal year.

About Bitdeer Technologies Group

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. Its business includes operating mining data centers, mining digital assets for its own account, and providing hosting services that allow customers to deploy and operate mining equipment. The company also develops and sells cryptocurrency mining machines and offers cloud hash rate services, which provide customers access to computing capacity for mining without requiring them to operate the equipment themselves.

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