Bitdeer Technologies Group (NASDAQ:BTDR) Trading 4.4% Higher - Should You Buy?

Key Points

• Bitdeer shares rose 4.4% to $10.77 in Monday trading, although volume was 41% below the stock’s average daily level.
• Analyst sentiment is generally positive, with 12 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $24.00; individual targets range from $10 to $20 in the latest updates.
• The company remains unprofitable, reporting a quarterly loss of $0.37 per share, a negative 55.15% net margin and projected full-year EPS of -$1.72. However, company insiders recently bought shares at prices between $8.84 and $9.04, while institutional ownership stands at 22.25%.

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) rose 4.4% during trading on Monday . The stock traded as high as $10.87 and last traded at $10.77. Approximately 5,669,061 shares traded hands during trading, a decline of 41% from the average daily volume of 9,580,104 shares. The stock had previously closed at $10.32.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Bitdeer Technologies Group in a report on Thursday, August 13th. Barclays assumed coverage on Bitdeer Technologies Group in a research report on Thursday, August 20th. They issued an "overweight" rating and a $15.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price objective on Bitdeer Technologies Group from $14.00 to $10.00 and set a "market perform" rating for the company in a research note on Thursday, August 13th. Cantor Fitzgerald upgraded Bitdeer Technologies Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $15.00 to $18.00 in a research report on Wednesday, August 5th. Finally, Needham & Company LLC decreased their target price on Bitdeer Technologies Group from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Bitdeer Technologies Group currently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Bitdeer Technologies Group Price Performance

The firm's fifty day simple moving average is $12.06 and its 200 day simple moving average is $11.98. The firm has a market cap of $2.45 billion, a P/E ratio of -3.52 and a beta of 2.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.01 and a current ratio of 1.01.

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

Insider Activity at Bitdeer Technologies Group

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

Institutional Trading of Bitdeer Technologies Group

A number of large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Bitdeer Technologies Group by 167.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company's stock valued at $4,265,000 after acquiring an additional 302,548 shares during the last quarter. Legal & General Group Plc increased its stake in Bitdeer Technologies Group by 39.0% during the second quarter. Legal & General Group Plc now owns 73,541 shares of the company's stock worth $844,000 after acquiring an additional 20,640 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Bitdeer Technologies Group during the second quarter valued at approximately $326,000. Invesco Ltd. raised its position in Bitdeer Technologies Group by 169.0% during the second quarter. Invesco Ltd. now owns 71,822 shares of the company's stock valued at $825,000 after purchasing an additional 45,120 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at approximately $1,558,000. 22.25% of the stock is currently owned by institutional investors.

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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