Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $14.00 at Keefe, Bruyette & Woods

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective lowered by research analysts at Keefe, Bruyette & Woods from $17.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 35.33% from the stock’s previous close.

A number of other brokerages have also recently weighed in on BTDR. Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Citizens Jmp assumed coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 target price on the stock. 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 report on Friday, May 15th. Wall Street Zen cut shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Finally, B. Riley Financial lifted their price target on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Bitdeer Technologies Group has an average rating of “Moderate Buy” and a consensus price target of $25.45.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR traded down $1.00 during mid-day trading on Tuesday, hitting $10.35. The company’s stock had a trading volume of 7,411,073 shares, compared to its average volume of 8,507,588. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -3.00 and a beta of 2.47. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The stock has a fifty day moving average of $15.34 and a 200-day moving average of $12.53.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The company had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The company’s revenue for the quarter was up 169.5% on a year-over-year basis. As a group, equities analysts forecast that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Fund Resources Investment Holding Group Co Ltd grew its holdings in Bitdeer Technologies Group by 3.0% during the 1st quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock worth $81,660,000 after acquiring an additional 276,098 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Bitdeer Technologies Group by 67.5% during the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after purchasing an additional 2,553,093 shares in the last quarter. Situational Awareness LP grew its stake in shares of Bitdeer Technologies Group by 92.4% during the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock valued at $29,751,000 after purchasing an additional 1,651,450 shares during the last quarter. Value Aligned Research Advisors LLC increased its holdings in shares of 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 purchasing an additional 1,888,825 shares in the last quarter. Finally, State Street Corp raised its position in Bitdeer Technologies Group by 34.1% in the 4th quarter. State Street Corp now owns 3,144,782 shares of the company’s stock worth $35,253,000 after purchasing an additional 800,003 shares during the last quarter. 22.25% of the stock is owned by 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.