Rosenblatt Securities Cuts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $18.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target lowered by Rosenblatt Securities from $30.00 to $18.00 in a research report released on Monday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on BTDR. HC Wainwright decreased their price target on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. BTIG Research reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. Needham & Company LLC upped their price target on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 16th. B. Riley Financial lowered their price objective on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Finally, Cantor Fitzgerald dropped their target price on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 16th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.90.

Bitdeer Technologies Group Trading Down 1.7%

NASDAQ:BTDR opened at $11.99 on Monday. The company has a market cap of $2.54 billion, a PE ratio of -2.13 and a beta of 2.33. The business’s 50 day moving average is $12.33 and its two-hundred day moving average is $14.82. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.46. Bitdeer Technologies Group has a 52 week low of $6.84 and a 52 week high of $27.80.

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

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of BTDR. Fund Resources Investment Holding Group Co Ltd purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at $102,732,000. Bank of America Corp DE lifted its stake in shares of Bitdeer Technologies Group by 67.5% in the 2nd 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 last quarter. Azora Capital LP bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at approximately $23,817,000. Geode Capital Management LLC raised its holdings in Bitdeer Technologies Group by 197.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after buying an additional 1,057,552 shares during the period. Finally, Situational Awareness LP lifted its position in Bitdeer Technologies Group by 92.3% in the fourth quarter. Situational Awareness LP now owns 1,788,000 shares of the company’s stock worth $20,043,000 after buying an additional 858,400 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

About Bitdeer Technologies Group

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.