Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Up 15.5% – Still a Buy?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) traded up 15.5% during trading on Wednesday . The company traded as high as $14.37 and last traded at $14.4150. 7,700,227 shares were traded during mid-day trading, an increase of 2% from the average session volume of 7,542,185 shares. The stock had previously closed at $12.48.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BTDR shares. Zacks Research lowered shares of Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, March 18th. HC Wainwright reduced their price target on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Cantor Fitzgerald cut shares of Bitdeer Technologies Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $10.00 in a research report on Thursday, April 9th. Finally, Needham & Company LLC reduced their price target on shares of Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Bitdeer Technologies Group Stock Performance

The stock has a 50-day moving average of $9.55 and a 200-day moving average of $12.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -4.81 and a beta of 2.32.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). The business had revenue of $224.84 million during the quarter, compared to the consensus estimate of $208.25 million. Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The firm’s quarterly revenue was up 225.8% compared to the same quarter last year. As a group, analysts anticipate that Bitdeer Technologies Group will post -0.83 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. Fund Resources Investment Holding Group Co Ltd bought a new stake in Bitdeer Technologies Group during the fourth quarter worth $102,732,000. Bank of America Corp DE raised its position in shares of Bitdeer Technologies Group by 67.5% in the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after purchasing an additional 2,553,093 shares during the period. Value Aligned Research Advisors LLC raised its position 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 during the period. Azora Capital LP bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at about $23,817,000. Finally, Situational Awareness LP raised its position in shares of Bitdeer Technologies Group by 92.3% in the fourth quarter. Situational Awareness LP now owns 1,788,000 shares of the company’s stock valued at $20,043,000 after purchasing an additional 858,400 shares during the period. 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.