Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – Here’s Why
by Renee Jackson · The Cerbat GemBitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $12.89, but opened at $12.40. Bitdeer Technologies Group shares last traded at $12.71, with a volume of 784,679 shares.
Wall Street Analysts Forecast Growth
BTDR has been the subject of several research analyst reports. Benchmark cut their price objective on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Zacks Research lowered Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Rosenblatt Securities reissued a “buy” rating and set a $18.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday, March 18th. Finally, Cantor Fitzgerald lowered Bitdeer Technologies Group from an “overweight” rating to a “neutral” rating and cut their price target for the company from $20.00 to $10.00 in a report on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and a consensus price target of $24.20.
Check Out Our Latest Analysis on BTDR
Bitdeer Technologies Group Stock Down 2.6%
The company has a 50-day moving average price of $9.22 and a 200 day moving average price of $13.06. The firm has a market capitalization of $2.66 billion, a PE ratio of -4.00 and a beta of 2.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.75.
Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.59). Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The business had revenue of $224.84 million during the quarter, compared to analysts’ expectations of $208.25 million. The business’s revenue for the quarter was up 225.8% compared to the same quarter last year. Analysts forecast that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.
Hedge Funds Weigh In On Bitdeer Technologies Group
Several large investors have recently made changes to their positions in BTDR. Empowered Funds LLC purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $34,000. Kestra Advisory Services LLC purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $39,000. Tower Research Capital LLC TRC lifted its position 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 valued at $83,000 after acquiring an additional 7,157 shares in the last quarter. Mariner LLC purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $117,000. Finally, Entropy Technologies LP purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $125,000. 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.