Key Points
- Insider Haris Fozan Basit purchased 25,000 Bitdeer shares at an average price of $8.84, investing $221,000 and increasing his holdings to 35,000 shares.
- Bitdeer reported a quarterly loss of $0.37 per share on $228.78 million in revenue, with a negative net margin of 55.15%; analysts expect a full-year loss of $1.54 per share.
- The stock opened at $9.39 and has a “Moderate Buy” consensus rating, with an average analyst price target of $24.82; institutional investors own 22.25% of the company.
Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) insider Haris Fozan Basit bought 25,000 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $8.84 per share, with a total value of $221,000.00. Following the purchase, the insider owned 35,000 shares of the company's stock, valued at $309,400. The trade was a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Bitdeer Technologies Group Stock Up 2.8%
Shares of NASDAQ:BTDR opened at $9.39 on Tuesday. The company's fifty day moving average is $13.34 and its two-hundred day moving average is $12.13. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.01 and a current ratio of 1.01. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -3.07 and a beta of 2.50.
Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. The business had revenue of $228.78 million during the quarter. Equities analysts anticipate that Bitdeer Technologies Group will post -1.54 EPS for the current year.
Institutional Trading of Bitdeer Technologies Group
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fund Resources Investment Holding Group Co Ltd lifted its stake in Bitdeer Technologies Group by 3.0% during the first quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company's stock valued at $81,660,000 after buying an additional 276,098 shares in the last quarter. Bank of America Corp DE increased its position in shares of Bitdeer Technologies Group by 67.5% in the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company's stock worth $72,753,000 after acquiring an additional 2,553,093 shares in the last quarter. Situational Awareness LP raised its holdings in shares of Bitdeer Technologies Group by 92.4% during the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company's stock valued at $29,751,000 after acquiring an additional 1,651,450 shares during the period. Value Aligned Research Advisors LLC raised its holdings in shares of Bitdeer Technologies Group by 137.0% during 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 acquiring an additional 1,888,825 shares during the period. Finally, State Street Corp lifted its position in shares of Bitdeer Technologies Group by 34.1% in the 4th quarter. State Street Corp now owns 3,144,782 shares of the company's stock valued at $35,253,000 after acquiring an additional 800,003 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have commented on BTDR. Benchmark restated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Tuesday, August 11th. B. Riley Financial dropped their target price on Bitdeer Technologies Group from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. Rosenblatt Securities lifted their price target on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a "buy" rating in a report on Friday, May 15th. Cantor Fitzgerald upgraded shares of Bitdeer Technologies Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $15.00 to $18.00 in a research note on Wednesday, August 5th. Finally, Citizens Jmp assumed coverage on Bitdeer Technologies Group in a research report on Wednesday, June 24th. They issued a "market outperform" rating and a $35.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.82.
Check Out Our Latest Stock Report on Bitdeer Technologies Group
About Bitdeer Technologies Group
(
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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