Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 9.8% – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price rose 9.8% during trading on Friday . The stock traded as high as $10.77 and last traded at $10.9940. Approximately 3,319,031 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 6,046,152 shares. The stock had previously closed at $10.01.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BTDR. BTIG Research reissued a “buy” rating and issued a $25.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday, November 26th. Needham & Company LLC boosted their target price on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Wall Street Zen lowered shares of Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald dropped their price objective on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Bitdeer Technologies Group Stock Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.90. The firm has a market cap of $2.33 billion, a P/E ratio of -1.96 and a beta of 2.31. The firm’s fifty day moving average price is $16.36 and its 200 day moving average price is $14.88.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.06). The firm had revenue of $169.71 million during the quarter, compared to analysts’ expectations of $151.80 million. Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The company’s revenue for the quarter was up 173.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.35) earnings per share. Sell-side analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in Bitdeer Technologies Group by 167.6% in the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after purchasing an additional 302,548 shares during the period. Deutsche Bank AG raised its stake in shares of Bitdeer Technologies Group by 198.3% during the first quarter. Deutsche Bank AG now owns 49,301 shares of the company’s stock worth $435,000 after purchasing an additional 32,776 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Bitdeer Technologies Group by 197.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after purchasing an additional 1,057,552 shares in the last quarter. Harvest Portfolios Group Inc. raised its position in Bitdeer Technologies Group by 76.3% in the second quarter. Harvest Portfolios Group Inc. now owns 64,469 shares of the company’s stock worth $740,000 after acquiring an additional 27,891 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Bitdeer Technologies Group by 45.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 537,082 shares of the company’s stock valued at $4,742,000 after purchasing an additional 168,304 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.