Bitdeer Technologies Group (NASDAQ:BTDR) Stock Gets Price Target Trim from Barclays

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price decreased by Barclays from $17.00 to $14.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 102.11% from the stock’s current price.

A number of other brokerages have also recently weighed in on BTDR. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods lowered their price objective on Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, August 13th. Weiss Ratings downgraded Bitdeer Technologies Group from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Needham & Company LLC cut their price objective on Bitdeer Technologies Group from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wall Street Zen upgraded Bitdeer Technologies Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 31st. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and a consensus price target of $21.10.

Bitdeer Technologies Group Stock Up 8.1%

Bitdeer Technologies Group stock traded up $0.52 during mid-day trading on Wednesday, hitting $6.93. The company’s stock had a trading volume of 1,316,916 shares, compared to its average volume of 9,733,580. Bitdeer Technologies Group has a 52-week low of $5.03 and a 52-week high of $20.72. The company has a market cap of $1.58 billion, a PE ratio of -2.28 and a beta of 2.72. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day moving average is $9.62 and its 200 day moving average is $11.43.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Tuesday, November 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.13). Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. The company had revenue of $320.75 million for the quarter, compared to analyst estimates of $258.18 million. During the same period last year, the business earned ($1.28) EPS. The company’s quarterly revenue was up 89.0% on a year-over-year basis. On average, analysts anticipate that Bitdeer Technologies Group will post -1.68 earnings per share for the current year.

Insider Activity

In other Bitdeer Technologies Group news, insider Haris Basit purchased 25,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was purchased at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the completion of the purchase, the insider directly owned 35,000 shares in the company, valued at approximately $309,400. This trade represents a 250.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Bitdeer Technologies Group

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in shares of Bitdeer Technologies Group by 1,366.7% in the first quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock valued at $27,919,000 after buying an additional 3,007,523 shares during the last quarter. Q Fund Management Hong Kong Ltd bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $3,321,000. Situational Awareness LP grew its holdings in Bitdeer Technologies Group by 92.4% during 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 last quarter. Engineers Gate Manager LP bought a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $2,115,000. Finally, Bank of Nova Scotia increased its position in Bitdeer Technologies Group by 91.1% in the 1st quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock valued at $11,846,000 after acquiring an additional 652,874 shares in the last quarter. 22.25% of the stock is owned by institutional investors.

Top Bitdeer Technologies Group Stories

Investors following BTDR have been watching these stories:

• Positive Sentiment: Bitdeer reported record third-quarter revenue of $320.7 million, up 89% year over year, while adjusted EBITDA rose 173% to $69.6 million. Bitdeer third-quarter results
• Neutral Sentiment: Needham lowered its price target to $18 from $20 but kept a Buy rating, reflecting a reduced valuation outlook alongside continued analyst optimism.
• Negative Sentiment: Bitdeer lost $0.46 per share, missing the consensus estimate of a $0.33 loss. Despite the revenue beat, the wider-than-expected loss and continued negative profitability are likely weighing on sentiment. Bitdeer earnings report

About Bitdeer Technologies Group

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. Its business includes operating mining data centers, mining digital assets for its own account, and providing hosting services that allow customers to deploy and operate mining equipment. The company also develops and sells cryptocurrency mining machines and offers cloud hash rate services, which provide customers access to computing capacity for mining without requiring them to operate the equipment themselves.