Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – Should You Sell?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $9.61, but opened at $8.29. Bitdeer Technologies Group shares last traded at $7.9480, with a volume of 7,675,985 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Needham & Company LLC dropped their price target on 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. BTIG Research reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. Rosenblatt Securities reduced their price target on shares of Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Benchmark decreased their price target on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Cantor Fitzgerald dropped their price objective on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Ten 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. Based on data from MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and a consensus target price of $26.60.

Bitdeer Technologies Group Stock Performance

The stock has a market cap of $1.72 billion, a P/E ratio of -2.58 and a beta of 2.33. The firm’s 50-day moving average is $12.12 and its two-hundred day moving average is $14.70. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.28.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate 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 return on equity of 8.92% and a net margin of 10.58%.Bitdeer Technologies Group’s revenue for the quarter was up 225.8% compared to the same quarter last year. As a group, research analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Institutional investors have recently bought and sold shares of the stock. Vident Advisory LLC lifted its position in shares of Bitdeer Technologies Group by 39.3% in the fourth quarter. Vident Advisory LLC now owns 1,186,662 shares of the company’s stock worth $13,302,000 after buying an additional 334,548 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $34,000. Vennlight Capital Management LP acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $1,030,000. Engineers Gate Manager LP bought a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $604,000. Finally, CastleKnight Management LP grew its holdings in Bitdeer Technologies Group by 14.8% during the fourth quarter. CastleKnight Management LP now owns 2,095,116 shares of the company’s stock valued at $23,486,000 after purchasing an additional 269,875 shares during the last quarter. 22.25% of the stock is currently 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.