Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Down 6.2% – Should You Sell?

Bitdeer Technologies Group (NASDAQ:BTDR) was down 6.2% during trading on Tuesday . The stock traded as low as $11.58 and last traded at $11.71. Approximately 1,729,152 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 4,271,740 shares. The stock had previously closed at $12.48.

Analyst Ratings Changes

Several brokerages recently issued reports on BTDR. Jones Trading initiated coverage on shares of Bitdeer Technologies Group in a research report on Monday, October 6th. They set a “buy” rating and a $32.00 price target on the stock. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Monday, October 20th. Roth Capital reissued a “buy” rating and issued a $40.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, October 15th. Rosenblatt Securities lifted their price target on Bitdeer Technologies Group from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Needham & Company LLC upped their price target on Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Bitdeer Technologies Group Price Performance

The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a market cap of $2.54 billion, a PE ratio of -2.13 and a beta of 2.33. The firm has a 50 day moving average of $13.59 and a two-hundred day moving average of $14.75.

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

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP raised its holdings in Bitdeer Technologies Group by 2.2% in the third quarter. First Trust Advisors LP now owns 40,138 shares of the company’s stock worth $686,000 after buying an additional 878 shares during the last quarter. Main Management ETF Advisors LLC raised its holdings in Bitdeer Technologies Group by 1.6% in the 2nd quarter. Main Management ETF Advisors LLC now owns 57,153 shares of the company’s stock worth $656,000 after acquiring an additional 924 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Bitdeer Technologies Group by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after acquiring an additional 1,044 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Bitdeer Technologies Group by 5.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock valued at $355,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Bitdeer Technologies Group by 1.3% during the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock valued at $1,791,000 after purchasing an additional 1,307 shares during the last quarter. 22.25% of the stock is currently 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.