Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Down 5.6% – Should You Sell?

by · The Cerbat Gem

Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report)’s share price was down 5.6% during trading on Friday . The stock traded as low as $10.86 and last traded at $10.8450. Approximately 1,866,773 shares were traded during trading, a decline of 69% from the average daily volume of 6,015,773 shares. The stock had previously closed at $11.49.

Analyst Upgrades and Downgrades

BTDR has been the subject of a number of research analyst reports. Needham & Company LLC upped their target price on Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Jones Trading started coverage on Bitdeer Technologies Group in a report on Monday, October 6th. They issued a “buy” rating and a $32.00 price objective for the company. Roth Capital reaffirmed a “buy” rating and set a $40.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, October 15th. B. Riley cut their price target on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Finally, HC Wainwright reduced their price objective on shares of Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.00.

View Our Latest Analysis on BTDR

Bitdeer Technologies Group Trading Down 5.4%

The company has a 50 day moving average of $15.29 and a 200 day moving average of $14.82. The firm has a market cap of $2.30 billion, a P/E ratio of -1.92 and a beta of 2.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.90.

Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last posted its 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 return on equity of 91.31% and a negative net margin of 115.59%.The business had revenue of $169.71 million during the quarter, compared to the consensus estimate of $151.80 million. During the same period in the prior year, the firm earned ($0.35) earnings per share. The business’s revenue was up 173.7% on a year-over-year basis. Analysts predict that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in 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 purchasing an additional 1,044 shares during the period. Amalgamated Bank bought a new stake in shares of Bitdeer Technologies Group in the second quarter valued at approximately $35,000. Tower Research Capital LLC TRC grew its stake in shares of Bitdeer Technologies Group by 7,157.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after acquiring an additional 7,157 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Bitdeer Technologies Group during the second quarter worth $105,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Bitdeer Technologies Group during the second quarter worth $129,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

(Get Free Report)

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.

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