Bitdeer Technologies Group (NASDAQ:BTDR) Announces Quarterly Earnings Results

Bitdeer Technologies Group (NASDAQ:BTDR) posted its quarterly earnings data on Monday. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.01), FiscalAI reports. 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 $228.78 million for the quarter, compared to the consensus estimate of $228.67 million.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR opened at $10.88 on Monday. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The company has a 50 day simple moving average of $14.52 and a two-hundred day simple moving average of $12.35. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -3.15 and a beta of 2.50. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC bought a new position in Bitdeer Technologies Group during the 4th quarter valued at approximately $34,000. Kestra Advisory Services LLC bought a new stake in Bitdeer Technologies Group in the fourth quarter worth $39,000. Tower Research Capital LLC TRC boosted its holdings in Bitdeer Technologies Group by 7,157.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after acquiring an additional 7,157 shares in the last quarter. Mariner LLC purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $117,000. Finally, Entropy Technologies LP purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $125,000. 22.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

BTDR has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their target price on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating for the company in a research note on Tuesday, July 28th. Zacks Research raised Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Rosenblatt Securities raised their price objective on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Benchmark dropped their target price on shares of Bitdeer Technologies Group from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.55.

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.