Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Down 6.5% – Should You Sell?

Bitdeer Technologies Group (NASDAQ:BTDR) shares dropped 6.5% on Thursday . The company traded as low as $11.90 and last traded at $11.7470. 343,272 shares were traded during mid-day trading, a decline of 96% from the average session volume of 8,567,434 shares. The stock had previously closed at $12.57.

Analysts Set New Price Targets

BTDR has been the subject of a number of research reports. Rosenblatt Securities boosted their price target on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. B. Riley Financial lifted their price objective on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Cantor Fitzgerald upped their target price on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.45.

Bitdeer Technologies Group Stock Down 4.4%

The company has a market cap of $2.53 billion, a P/E ratio of -3.11 and a beta of 2.47. The stock has a 50-day moving average of $15.52 and a two-hundred day moving average of $12.51. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85.

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

Several institutional investors and hedge funds have recently made changes to their positions in BTDR. First Trust Advisors LP increased its stake in shares of 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 period. GAMMA Investing LLC boosted its position in Bitdeer Technologies Group by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock valued at $39,000 after buying an additional 902 shares during the period. Public Employees Retirement System of Ohio boosted its position in Bitdeer Technologies Group by 5.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock valued at $355,000 after buying an additional 1,100 shares during the period. Alliancebernstein L.P. boosted its position 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 buying an additional 1,307 shares during the period. Finally, Invesco Ltd. grew its holdings in Bitdeer Technologies Group by 3.7% in the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock worth $806,000 after acquiring an additional 2,597 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

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.