Bitdeer Technologies Group (NASDAQ:BTDR) Earns “Market Perform” Rating from Keefe, Bruyette & Woods

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a report released on Tuesday,Benzinga reports. They currently have a $14.00 target price on the stock, down from their prior target price of $26.50. Keefe, Bruyette & Woods’ price target suggests a potential upside of 0.72% from the company’s previous close.

Several other research firms have also recently weighed in on BTDR. Rosenblatt Securities set a $5.90 price target on Bitdeer Technologies Group in a report on Wednesday, January 14th. Jones Trading started coverage on shares of Bitdeer Technologies Group in a research note on Monday, October 6th. They issued a “buy” rating and a $32.00 target price on the stock. Cantor Fitzgerald dropped their target price on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Finally, B. Riley lowered their price objective on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.39.

Bitdeer Technologies Group Stock Down 4.3%

BTDR opened at $13.90 on Tuesday. The firm has a market capitalization of $2.94 billion, a P/E ratio of -2.47 and a beta of 2.33. Bitdeer Technologies Group has a one year low of $6.84 and a one year high of $27.80. The company has a fifty day moving average price of $12.08 and a 200-day moving average price of $14.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.74.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). The business had revenue of $169.71 million during the quarter, compared to analysts’ expectations of $151.80 million. Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The company’s quarterly revenue was up 173.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) EPS. Equities research analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its stake in shares of Bitdeer Technologies Group by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after purchasing an additional 1,044 shares in the last quarter. Amalgamated Bank bought a new stake in Bitdeer Technologies Group in the second quarter worth $35,000. Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 7,157 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Bitdeer Technologies Group during the second quarter valued at about $105,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bitdeer Technologies Group during the third quarter valued at about $159,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.