Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $22.00 at Benchmark

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target dropped by research analysts at Benchmark from $27.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 101.37% from the stock’s current price.

Other analysts also recently issued reports about the company. B. Riley Financial increased their price target on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Needham & Company LLC lifted their price target on Bitdeer Technologies Group from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their target price on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating for the company in a report on Tuesday, July 28th. Citizens Jmp began coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $35.00 price target on the stock. Finally, Zacks Research upgraded shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.55.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR traded down $0.14 during midday trading on Thursday, reaching $10.93. 3,372,380 shares of the company were exchanged, compared to its average volume of 8,820,651. Bitdeer Technologies Group has a one year low of $6.92 and a one year high of $27.80. The stock’s 50-day moving average price is $14.81 and its 200-day moving average price is $12.43. 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 $2.57 billion, a P/E ratio of -3.15 and a beta of 2.50.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued 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 return on equity of 69.95% and a negative net margin of 68.11%.The business had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. During the same period in the prior year, the firm earned ($0.37) EPS. The business’s revenue for the quarter was up 169.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP raised its stake in shares of Bitdeer Technologies Group by 2.2% during the 3rd quarter. First Trust Advisors LP now owns 40,138 shares of the company’s stock worth $686,000 after acquiring an additional 878 shares in the last quarter. GAMMA Investing LLC increased its stake in Bitdeer Technologies Group by 57.3% during the second 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 last quarter. Public Employees Retirement System of Ohio increased its stake in Bitdeer Technologies Group by 5.6% during the third quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock worth $355,000 after purchasing an additional 1,100 shares during the period. Alliancebernstein L.P. increased its holdings in Bitdeer Technologies Group by 1.3% in the third quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock valued at $1,791,000 after buying an additional 1,307 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Bitdeer Technologies Group by 3.7% during the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock worth $806,000 after purchasing an additional 2,597 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

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.