Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up - Still a Buy?

Key Points

• Bitdeer shares jumped 8.2%, opening at $11.20 versus a prior close of $10.67 and last trading near $11.62. The company has a $2.63 billion market capitalization and high volatility, with a beta of 2.50.
• Analyst sentiment remains broadly positive: 12 analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and a $24 average price target. However, several firms recently lowered their price objectives.
• Bitdeer reported a quarterly loss of $0.37 per share, $228.78 million in revenue, and negative profitability metrics; analysts expect a full-year loss of $1.72 per share. Two insiders recently purchased a combined 50,000 shares at prices below $9.05.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $10.67, but opened at $11.20. Bitdeer Technologies Group shares last traded at $11.6210, with a volume of 2,201,529 shares.

Wall Street Analyst Weigh In

BTDR has been the topic of several recent research reports. Benchmark restated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Tuesday, August 11th. Weiss Ratings reissued a "hold (c-)" rating on shares of Bitdeer Technologies Group in a research note on Thursday, August 13th. Keefe, Bruyette & Woods decreased their price objective on Bitdeer Technologies Group from $14.00 to $10.00 and set a "market perform" rating on the stock in a research report on Thursday, August 13th. Needham & Company LLC lowered their price objective on Bitdeer Technologies Group from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Finally, Zacks Research raised Bitdeer Technologies Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Bitdeer Technologies Group Trading Up 8.2%

The company's 50 day moving average price is $12.34 and its two-hundred day moving average price is $12.01. The firm has a market cap of $2.63 billion, a PE ratio of -3.77 and a beta of 2.50. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%.The firm had revenue of $228.78 million for the quarter. As a group, sell-side analysts forecast that Bitdeer Technologies Group will post -1.72 EPS for the current year.

Insider Activity

In related news, insider Haris Fozan Basit purchased 25,000 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $8.84 per share, with a total value of $221,000.00. Following the completion of the purchase, the insider owned 35,000 shares of the company's stock, valued at approximately $309,400. The trade was a 250.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael G. Potter purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $9.04 per share, with a total value of $226,000.00. Following the acquisition, the chief financial officer directly owned 25,000 shares of the company's stock, valued at $226,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of BTDR. First Trust Advisors LP boosted its holdings in shares of Bitdeer Technologies Group by 2.2% in the 3rd quarter. First Trust Advisors LP now owns 40,138 shares of the company's stock valued at $686,000 after buying an additional 878 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Bitdeer Technologies Group by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company's stock worth $39,000 after buying an additional 902 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Bitdeer Technologies Group by 5.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company's stock worth $355,000 after acquiring an additional 1,100 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Bitdeer Technologies Group by 1.3% during the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company's stock worth $1,791,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Bitdeer Technologies Group by 3.7% during the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company's stock valued at $806,000 after acquiring an additional 2,597 shares during the last quarter. 22.25% of the stock is owned by institutional investors.

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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