Bitdeer Technologies Group (NASDAQ:BTDR) Releases Quarterly Earnings Results, Misses Expectations By $2.99 EPS

Bitdeer Technologies Group (NASDAQ:BTDR) issued its quarterly earnings results on Tuesday. The company reported ($3.22) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($2.99), Zacks reports. Bitdeer Technologies Group had a negative net margin of 18.27% and a negative return on equity of 13.47%.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $13.10 on Tuesday. The business has a 50-day simple moving average of $19.02 and a two-hundred day simple moving average of $12.80. The company has a market capitalization of $1.47 billion, a P/E ratio of -25.19 and a beta of 2.04. Bitdeer Technologies Group has a 52-week low of $5.23 and a 52-week high of $26.99.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BTDR shares. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They issued an “outperform” rating and a $26.50 target price for the company. B. Riley lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Roth Mkm increased 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, December 17th. Needham & Company LLC lifted their price target on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price objective on shares of Bitdeer Technologies Group in a report on Monday. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $22.23.

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.