Bitdeer Technologies Group $BTDR Stake Increased by SummitTX Capital L.P.

SummitTX Capital L.P. boosted its stake in Bitdeer Technologies Group (NASDAQ:BTDR) by 440.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,910 shares of the company’s stock after acquiring an additional 79,788 shares during the period. SummitTX Capital L.P.’s holdings in Bitdeer Technologies Group were worth $847,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $34,000. Kestra Advisory Services LLC acquired a new position in Bitdeer Technologies Group in the fourth quarter worth about $39,000. Hollencrest Capital Management acquired a new position in Bitdeer Technologies Group in the first quarter worth about $43,000. Leonteq Securities AG bought a new stake in Bitdeer Technologies Group in the first quarter valued at about $72,000. Finally, Tower Research Capital LLC TRC raised its stake in Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after buying an additional 7,157 shares in the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. B. Riley Financial lifted their target price on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods dropped their price target on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating on the stock in a research report on Tuesday. Cantor Fitzgerald raised their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Rosenblatt Securities lifted their price objective on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Needham & Company LLC boosted their target price 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. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.45.

Bitdeer Technologies Group Stock Up 24.7%

Shares of Bitdeer Technologies Group stock opened at $11.10 on Friday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -3.22 and a beta of 2.47. The business’s 50 day simple moving average is $15.12 and its 200-day simple moving average is $12.50. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The firm had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.02 million. During the same period in the previous year, the firm earned ($0.37) earnings per share. The company’s revenue for the quarter was up 169.5% on a year-over-year basis. Equities research analysts forecast that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

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.