B. Riley Announces Positive Earnings Outlook for Bitdeer Technologies Group in FY2025

On February 12, 2025, B. Riley updated its earnings forecast for Bitdeer Technologies Group (NASDAQ:BTDR) for the fiscal year 2025. The firm raised its estimates at the request of investors, documenting a positive trend in the company's financial outlook.

Analyst N. Giles from B. Riley now anticipates Bitdeer will achieve earnings of $0.60 per share for FY2025, revising the previous estimate of $0.58. This upward adjustment reinforces B. Riley's confidence in the company's stock, which they currently rate as "Buy" with a target price set at $24.00.

Market Sentiment Surrounding Bitdeer Technologies Group

The consensus among analysts regarding Bitdeer Technologies Group's full-year earnings stands at a loss of $0.73 per share. Moreover, B. Riley has also estimated earnings of $1.05 EPS for FY2026, suggesting expectations of a significant recovery and growth in the following year.

Several other analysts have echoed similar positive sentiments. For example, on February 5, Rosenblatt Securities increased their price target for Bitdeer from $22.00 to $30.00, maintaining a "buy" rating. Likewise, Northland Securities revised their target from $20.00 to $24.00, offering an "outperform" rating in early January.

Moreover, Roth Mkm raised their price target significantly from $15.00 to $29.00 in December, while Benchmark also boosted their target from $16.00 to $29.00, both labeling the stock as "buy." Furthermore, Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies earlier in January, assigning an "outperform" rating with a price objective of $26.50.

The overall market sentiment indicates a strong support for Bitdeer, as evidenced by the eleven analysts who have rated the stock with a "buy" recommendation and one who has given it a "strong buy" rating. According to MarketBeat, Bitdeer Technologies currently holds an average rating of "Buy," with a consensus target price of $22.23.

Recent Performance of Bitdeer Technologies Group Stock

As of this past Thursday, shares of BTDR opened at $16.50. The stock has experienced considerable price movement over the past twelve months, ranging from a low of $5.23 to a high of $26.99. With a market capitalization of $1.85 billion, the company records a price-to-earnings ratio of -31.73 and a beta of 2.04, indicating high volatility.

The fifty-day simple moving average for Bitdeer Technologies stock is presently $19.86, while the two-hundred day simple moving average stands at $12.42.

Institutional Investor Activities

In recent quarters, institutional investors have made noteworthy changes to their positions in Bitdeer Technologies Group. For instance, Yong Rong HK Asset Management Ltd entered a new position worth about $65,010,000 during the fourth quarter. Similarly, Trivest Advisors Ltd took a new stake valued at approximately $48,481,000, and Van ECK Associates Corp invested about $29,125,000 into the company.

Renaissance Technologies LLC saw a remarkable increase in holdings by 3,558.6% in the fourth quarter, now owning 1,240,261 shares valued at $26,876,000 after a staggering purchase of 1,206,361 shares. Mirabella Financial Services LLP also entered the frame by acquiring a new position in the third quarter worth approximately $5,872,000. Cumulatively, hedge funds and other institutional investors hold about 22.25% of the company's stock.

About Bitdeer Technologies Group

Bitdeer Technologies Group is a technology enterprise specializing in blockchain and computing solutions. The company provides hash rate sharing solutions, such as Cloud hash rate and its Hash rate marketplace. Additionally, they offer comprehensive mining machine hosting solutions that include deployment, maintenance, and management services to optimize cryptocurrency mining, along with mining cryptocurrencies for their own account.

Conclusion

B. Riley's enhanced earnings outlook for Bitdeer Technologies and the positive feedback from other analysts underscore growing confidence in the firm's future financial performance. Such insights could be pivotal for investors considering engagement with BTDR shares.

B. Riley, BTDR, Earnings