Bitdeer Technologies Group (NASDAQ:BTDR) Issues Earnings Results

Bitdeer Technologies Group (NASDAQ:BTDR) posted its quarterly earnings data on Monday. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.01), FiscalAI reports. The company had revenue of $228.78 million during the quarter, compared to analyst estimates of $228.67 million. Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%.

Bitdeer Technologies Group Price Performance

Shares of BTDR stock opened at $10.88 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88. Bitdeer Technologies Group has a 12-month low of $6.92 and a 12-month high of $27.80. The firm has a fifty day moving average of $14.52 and a 200-day moving average of $12.35. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -3.15 and a beta of 2.50.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Needham & Company LLC raised their target price on shares of Bitdeer Technologies Group from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Citizens Jmp initiated coverage on shares of Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price objective on the stock. Finally, Rosenblatt Securities upped their target price on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.55.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTDR. Bank of America Corp DE increased its stake in Bitdeer Technologies Group by 67.5% during the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after purchasing an additional 2,553,093 shares in the last quarter. Value Aligned Research Advisors LLC boosted its holdings in shares of Bitdeer Technologies Group by 137.0% in the fourth quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after buying an additional 1,888,825 shares during the period. Van ECK Associates Corp increased its position in shares of Bitdeer Technologies Group by 100.1% during the fourth quarter. Van ECK Associates Corp now owns 1,694,193 shares of the company’s stock worth $18,992,000 after acquiring an additional 847,486 shares in the last quarter. State Street Corp increased its position in shares of Bitdeer Technologies Group by 34.1% during the fourth quarter. State Street Corp now owns 3,144,782 shares of the company’s stock worth $35,253,000 after acquiring an additional 800,003 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Bitdeer Technologies Group by 5,771.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company’s stock worth $8,700,000 after acquiring an additional 744,956 shares during the period. 22.25% of the stock is currently owned by 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.