Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $27.00 at Benchmark

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective dropped by Benchmark from $38.00 to $27.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target indicates a potential upside of 108.49% from the company’s previous close.

Several other analysts have also commented on BTDR. Roth Mkm reiterated a “buy” rating and set a $40.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, October 15th. Cantor Fitzgerald reduced their price objective on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. BTIG Research reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. HC Wainwright reduced their price objective on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $14.00 price objective (down previously from $26.50) on shares of Bitdeer Technologies Group in a research report on Tuesday, January 27th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Moderate Buy” and an average price target of $27.90.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR traded down $0.32 during mid-day trading on Tuesday, reaching $12.95. The stock had a trading volume of 1,680,609 shares, compared to its average volume of 5,635,519. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.74. The stock has a market capitalization of $2.74 billion, a PE ratio of -2.30 and a beta of 2.33. The stock has a 50-day simple moving average of $12.35 and a two-hundred day simple moving average of $14.85. Bitdeer Technologies Group has a 12 month low of $6.84 and a 12 month high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.06). The company had revenue of $169.71 million for the quarter, compared to the consensus estimate of $151.80 million. Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. The company’s revenue for the quarter was up 173.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. On average, equities analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP grew its holdings in Bitdeer Technologies Group by 2.2% in 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 during the last quarter. Main Management ETF Advisors LLC boosted its position in Bitdeer Technologies Group by 1.6% in the second quarter. Main Management ETF Advisors LLC now owns 57,153 shares of the company’s stock worth $656,000 after purchasing an additional 924 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Bitdeer Technologies Group by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after buying an additional 1,044 shares in the last quarter. Public Employees Retirement System of Ohio boosted 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 buying an additional 1,100 shares during the period. Finally, Alliancebernstein L.P. raised its position in Bitdeer Technologies Group by 1.3% in the 3rd quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock worth $1,791,000 after purchasing an additional 1,307 shares during the period. 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.