Analysts Set Bitdeer Technologies Group (NASDAQ:BTDR) PT at $24.00

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $24.00.

BTDR has been the topic of several recent research reports. Barclays assumed coverage on shares of Bitdeer Technologies Group in a research report on Thursday, August 20th. They set an “overweight” rating and a $15.00 target price on the stock. Cantor Fitzgerald raised shares of Bitdeer Technologies Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $15.00 to $18.00 in a research note on Wednesday, August 5th. Rosenblatt Securities lifted their price target 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. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods decreased their price objective on Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating for the company in a report on Thursday, August 13th.

Insider Transactions at Bitdeer Technologies Group

In related news, CFO Michael G. Potter acquired 25,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $9.04 per share, for a total transaction of $226,000.00. Following the completion of the transaction, the chief financial officer directly owned 25,000 shares of the company’s stock, valued at $226,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Haris Basit acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $8.84 per share, for a total transaction of $221,000.00. Following the completion of the purchase, the insider owned 35,000 shares of the company’s stock, valued at $309,400. This trade represents a 250.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP acquired a new stake in shares of Bitdeer Technologies Group during the second quarter worth $164,000. California State Teachers Retirement System lifted its holdings in Bitdeer Technologies Group by 1,737.9% in the second quarter. California State Teachers Retirement System now owns 2,064,354 shares of the company’s stock valued at $32,761,000 after buying an additional 1,952,035 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group in the second quarter valued at $506,000. Handelsbanken Fonder AB boosted its position in Bitdeer Technologies Group by 59.4% during the second quarter. Handelsbanken Fonder AB now owns 37,300 shares of the company’s stock valued at $592,000 after acquiring an additional 13,900 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Bitdeer Technologies Group during the second quarter valued at $66,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $12.38 on Tuesday. The firm’s fifty day moving average price is $11.40 and its two-hundred day moving average price is $12.01. The stock has a market cap of $2.81 billion, a PE ratio of -4.05 and a beta of 2.51. 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 has a fifty-two week low of $6.92 and a fifty-two week high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. The firm had revenue of $228.78 million during the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. On average, equities analysts expect that Bitdeer Technologies Group will post -1.72 EPS for the current fiscal 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.