Bitdeer Technologies Group (NASDAQ:BTDR) Raised to Hold at Zacks Research

Bitdeer Technologies Group (NASDAQ:BTDR) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on the company. HC Wainwright dropped their target price on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. UBS Group reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. Needham & Company LLC lifted their price objective on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Finally, Rosenblatt Securities raised their price target on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Bitdeer Technologies Group Stock Up 5.1%

Shares of NASDAQ BTDR opened at $19.71 on Tuesday. Bitdeer Technologies Group has a 12-month low of $6.92 and a 12-month high of $27.80. The company has a market cap of $4.64 billion, a P/E ratio of -5.71 and a beta of 2.45. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The stock has a fifty day moving average price of $12.52 and a 200 day moving average price of $11.54.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The company had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.02 million. During the same quarter in the prior year, the firm earned ($0.37) EPS. The company’s revenue for the quarter was up 169.5% compared to the same quarter last year. Research analysts anticipate that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth approximately $6,792,000. Keystone Investors PTE Ltd. acquired a new stake in Bitdeer Technologies Group in the third quarter valued at $7,844,000. Neo Ivy Capital Management bought a new position in Bitdeer Technologies Group during the 3rd quarter valued at $3,427,000. Value Aligned Research Advisors LLC grew its holdings in Bitdeer Technologies Group by 65.6% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,378,789 shares of the company’s stock worth $23,564,000 after acquiring an additional 546,280 shares in the last quarter. Finally, Azora Capital LP acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth $23,817,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.