Bitdeer Technologies Group (NASDAQ:BTDR) Rating Increased to Strong-Buy at Barclays

Barclays upgraded shares of Bitdeer Technologies Group (NASDAQ:BTDR) to a strong-buy rating in a research report report published on Thursday, Marketbeat.com reports. They currently have $15.00 price target on the stock.

BTDR has been the subject of a number of other reports. Keefe, Bruyette & Woods lowered their target price on Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, August 13th. Needham & Company LLC reduced their price target on shares of Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Wall Street Zen lowered shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Cantor Fitzgerald upgraded shares of Bitdeer Technologies Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $18.00 in a research report on Wednesday, August 5th. Finally, Rosenblatt Securities raised their price objective on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Bitdeer Technologies Group Stock Up 8.3%

Shares of BTDR opened at $10.43 on Thursday. The company has a market capitalization of $2.37 billion, a P/E ratio of -3.41 and a beta of 2.50. Bitdeer Technologies Group has a one year low of $6.92 and a one year high of $27.80. The business’s 50 day simple moving average is $12.90 and its 200-day simple moving average is $12.05. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.01 and a quick ratio of 1.01.

Bitdeer Technologies Group (NASDAQ:BTDR) last released 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 54.72%. The business had revenue of $228.78 million for the quarter. As a group, sell-side analysts predict that Bitdeer Technologies Group will post -1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Haris Fozan Basit bought 25,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the completion of the transaction, the insider directly owned 35,000 shares in the company, valued at $309,400. The trade was a 250.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael G. Potter purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average cost of $9.04 per share, for a total transaction of $226,000.00. Following 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 SEC filing for this purchase provides additional information.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $34,000. GAMMA Investing LLC grew its holdings in 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 bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $39,000. Hollencrest Capital Management bought a new stake in shares of Bitdeer Technologies Group during the 1st quarter valued at $43,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at $66,000. 22.25% of the stock is owned by institutional investors.

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.