Bitdeer Technologies Group (NASDAQ:BTDR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Bitdeer Technologies Group (NASDAQ:BTDR) from a strong sell rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on the company. Barclays raised their price objective on Bitdeer Technologies Group from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, October 9th. B. Riley Financial cut their target price on Bitdeer Technologies Group from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 26th. 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. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, August 13th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.60.

Bitdeer Technologies Group Trading Down 8.0%

NASDAQ BTDR opened at $6.17 on Friday. The stock’s 50-day simple moving average is $10.17 and its two-hundred day simple moving average is $11.68. Bitdeer Technologies Group has a twelve month low of $5.99 and a twelve month high of $24.30. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.02 and a beta of 2.56.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%. The firm had revenue of $228.78 million for the quarter. Research analysts forecast that Bitdeer Technologies Group will post -1.68 EPS for the current fiscal year.

Insider Activity

In related news, insider Haris Basit acquired 25,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the completion of the acquisition, the insider owned 35,000 shares in the company, valued at approximately $309,400. This represents a 250.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael G. Potter acquired 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $9.04 per share, for a total transaction of $226,000.00. Following the acquisition, the chief financial officer owned 25,000 shares of the company’s stock, valued at approximately $226,000. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors have recently bought and sold shares of the stock. CenterBook Partners LP bought a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $397,000. SBI Securities Co. Ltd. increased its stake in Bitdeer Technologies Group by 80.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,621 shares of the company’s stock worth $48,000 after purchasing an additional 2,064 shares during the period. Vontobel Holding Ltd. lifted its position in Bitdeer Technologies Group by 89.5% in the third quarter. Vontobel Holding Ltd. now owns 21,677 shares of the company’s stock valued at $227,000 after purchasing an additional 10,238 shares during the last quarter. Activest Wealth Management lifted its position in Bitdeer Technologies Group by 150.0% in the third quarter. Activest Wealth Management now owns 5,000 shares of the company’s stock valued at $52,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Q Fund Management Hong Kong Ltd purchased a new stake in shares of Bitdeer Technologies Group during the third quarter valued at approximately $3,321,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. The company operates a vertically integrated platform that includes cryptocurrency mining, miner hosting, and hash rate sharing services, allowing customers to participate in digital asset mining without managing all of the underlying hardware and facilities.

Bitdeer conducts self-mining operations and provides data center services for mining equipment. It also develops and manufactures application-specific integrated circuit (ASIC) mining machines through its SEALMINER product line, with the goal of improving mining performance and energy efficiency.