Roth Capital Has Strong Estimate for BTDR FY2024 Earnings

Bitdeer Technologies Group (NASDAQ:BTDR) – Research analysts at Roth Capital increased their FY2024 earnings per share (EPS) estimates for shares of Bitdeer Technologies Group in a research report issued to clients and investors on Tuesday, December 17th. Roth Capital analyst D. Aftahi now forecasts that the company will post earnings of ($0.84) per share for the year, up from their prior estimate of ($0.87). The consensus estimate for Bitdeer Technologies Group’s current full-year earnings is ($0.75) per share. Roth Capital also issued estimates for Bitdeer Technologies Group’s Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at $0.19 EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at $0.30 EPS and FY2026 earnings at $1.59 EPS.

A number of other analysts have also recently issued reports on the stock. Roth Mkm raised their target price on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday. Rosenblatt Securities raised their price objective on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Northland Securities increased their target price on Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, HC Wainwright lifted their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Buy” and an average target price of $18.60.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock traded up $0.49 during mid-day trading on Thursday, hitting $19.89. 2,012,335 shares of the company’s stock traded hands, compared to its average volume of 2,979,857. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $25.51. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -38.25 and a beta of 2.27. The firm has a 50 day simple moving average of $12.05 and a two-hundred day simple moving average of $9.61.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Mirabella Financial Services LLP bought a new stake in Bitdeer Technologies Group during the third quarter worth about $5,872,000. D1 Capital Partners L.P. acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at approximately $5,386,000. Marshall Wace LLP bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $5,074,000. Point72 Asset Management L.P. acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $4,617,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $4,510,000. 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.