Needham & Company LLC Cuts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $20.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target lowered by Needham & Company LLC from $22.00 to $20.00 in a research note issued to investors on Tuesday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. 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. Weiss Ratings raised Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Citizens Jmp started coverage on Bitdeer Technologies Group in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price objective for the company. Benchmark dropped their price objective on Bitdeer Technologies Group from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, B. Riley Financial raised their target price 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. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.82.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ:BTDR opened at $8.76 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88. The stock has a market cap of $2.06 billion, a PE ratio of -2.86 and a beta of 2.50. The company’s fifty day moving average is $13.69 and its 200 day moving average is $12.20. Bitdeer Technologies Group has a 52 week low of $6.92 and a 52 week high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 61.88%. The business had revenue of $228.78 million for the quarter. Research analysts anticipate 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 the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $9.04 per share, with a total value of $226,000.00. Following the completion of the purchase, the chief financial officer directly owned 25,000 shares of the company’s stock, valued at $226,000. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth $34,000. GAMMA Investing LLC grew its holdings in shares of Bitdeer Technologies Group by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after acquiring an additional 902 shares during the period. Kestra Advisory Services LLC purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth $39,000. Hollencrest Capital Management purchased a new stake in shares of Bitdeer Technologies Group in the 1st quarter worth about $43,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Bitdeer Technologies Group during the second quarter valued at approximately $66,000. Hedge funds and other institutional investors 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.