Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Cut to $10.00 by Analysts at Keefe, Bruyette & Woods

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $14.00 to $10.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 9.53% from the company’s current price.

Several other brokerages have also weighed in on BTDR. Rosenblatt Securities increased their target price on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Cantor Fitzgerald raised Bitdeer Technologies Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $15.00 to $18.00 in a research report on Wednesday, August 5th. Needham & Company LLC dropped their price target on Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. B. Riley Financial cut their price objective on Bitdeer Technologies Group from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.82.

Bitdeer Technologies Group Trading Up 1.2%

BTDR stock traded up $0.11 on Thursday, hitting $9.13. 1,687,656 shares of the company were exchanged, compared to its average volume of 9,059,326. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.85 and a quick ratio of 1.11. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -2.99 and a beta of 2.50. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80. The business’s fifty day moving average is $13.91 and its two-hundred day moving average is $12.24.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 61.88%. The company had revenue of $228.78 million during the quarter. As a group, research analysts forecast that Bitdeer Technologies Group will post -1.54 earnings per share for the current year.

Insider Buying and Selling at Bitdeer Technologies Group

In other Bitdeer Technologies Group news, CFO Michael G. Potter bought 25,000 shares of Bitdeer Technologies Group stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average price of $9.04 per share, for a total transaction of $226,000.00. Following the acquisition, the chief financial officer owned 25,000 shares of the company’s stock, valued at $226,000. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fund Resources Investment Holding Group Co Ltd grew its stake in shares of Bitdeer Technologies Group by 3.0% in the first quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock valued at $81,660,000 after buying an additional 276,098 shares in the last quarter. Bank of America Corp DE boosted its holdings in Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after acquiring an additional 2,553,093 shares during the period. Situational Awareness LP boosted its holdings in Bitdeer Technologies Group by 92.4% in the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after acquiring an additional 1,651,450 shares during the period. Value Aligned Research Advisors LLC grew its position in Bitdeer Technologies Group by 137.0% in the fourth quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after acquiring an additional 1,888,825 shares in the last quarter. Finally, State Street Corp grew its position in Bitdeer Technologies Group by 34.1% in the fourth quarter. State Street Corp now owns 3,144,782 shares of the company’s stock valued at $35,253,000 after acquiring an additional 800,003 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.