Analysts Issue Forecasts for Bitdeer Technologies Group’s Q2 2024 Earnings (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) – Roth Capital boosted their Q2 2024 earnings estimates for shares of Bitdeer Technologies Group in a research report issued to clients and investors on Tuesday, May 14th. Roth Capital analyst D. Aftahi now forecasts that the company will post earnings per share of $0.02 for the quarter, up from their previous forecast of ($0.13). The consensus estimate for Bitdeer Technologies Group’s current full-year earnings is ($0.03) per share. Roth Capital also issued estimates for Bitdeer Technologies Group’s Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.04) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.27) EPS and FY2026 earnings at ($0.18) EPS.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.15). Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. The firm had revenue of $114.85 million for the quarter.

A number of other research firms have also recently commented on BTDR. BTIG Research started coverage on Bitdeer Technologies Group in a report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday. Roth Mkm began coverage on shares of Bitdeer Technologies Group in a report on Thursday, February 29th. They issued a “buy” rating and a $14.00 price target on the stock. B. Riley initiated coverage on shares of Bitdeer Technologies Group in a report on Tuesday, March 12th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Monday, April 15th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $13.64.

Bitdeer Technologies Group Stock Down 2.6 %

Shares of Bitdeer Technologies Group stock opened at $5.71 on Thursday. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.65. The stock’s 50-day simple moving average is $6.43 and its 200-day simple moving average is $6.62. The company has a market capitalization of $639.35 million, a price-to-earnings ratio of -13.93 and a beta of 1.79.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BTDR. Vident Advisory LLC raised its position in Bitdeer Technologies Group by 186.4% during the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after purchasing an additional 565,362 shares during the period. Van ECK Associates Corp raised its holdings in Bitdeer Technologies Group by 10.5% during the 1st quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock valued at $8,537,000 after buying an additional 115,882 shares during the period. Nomura Holdings Inc. bought a new stake in Bitdeer Technologies Group in the fourth quarter worth $15,350,000. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Bitdeer Technologies Group during the fourth quarter worth $1,199,000. Finally, Vontobel Holding Ltd. bought a new position in Bitdeer Technologies Group during the fourth quarter valued at $240,000. Institutional investors own 22.25% of the company’s stock.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.