Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Up 6% – Still a Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) was up 6% during trading on Monday . The company traded as high as $10.32 and last traded at $9.9070. Approximately 1,276,942 shares changed hands during trading, a decline of 84% from the average daily volume of 7,882,844 shares. The stock had previously closed at $9.35.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BTDR. BTIG Research reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $14.00 price target (down from $26.50) on shares of Bitdeer Technologies Group in a report on Tuesday, January 27th. UBS Group reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. Benchmark reduced their price objective on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.60.

Bitdeer Technologies Group Stock Performance

The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -3.10 and a beta of 2.28. The stock has a 50 day simple moving average of $9.60 and a 200 day simple moving average of $13.48. 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 announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.59). The company 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% on a year-over-year basis. As a group, analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

A number of large investors have recently modified their holdings of BTDR. Great Lakes Advisors LLC acquired a new position in Bitdeer Technologies Group during the third quarter worth about $1,355,000. Tudor Investment Corp ET AL bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $6,792,000. Neo Ivy Capital Management acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $3,427,000. Keystone Investors PTE Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $7,844,000. Finally, Voya Investment Management LLC raised its holdings in shares of Bitdeer Technologies Group by 421.6% in the 3rd quarter. Voya Investment Management LLC now owns 128,331 shares of the company’s stock worth $2,193,000 after purchasing an additional 103,730 shares in the last quarter. Institutional investors and hedge funds 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.