Some Investing Thoughts On Bitdeer Technologies Holding Co (NASDAQ: BTDR)

Bitdeer Technologies Holding Co (BTDR) concluded trading on Thursday at a closing price of $10.17, with 4.53 million shares of worth about $46.11 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 28.90% during that period and on July 11, 2024 the price saw a loss of about -6.78%. Currently the company’s common shares owned by public are about 63.57M shares, out of which, 21.26M shares are available for trading.

Stock saw a price change of -14.03% in past 5 days and over the past one month there was a price change of 39.51%. Year-to-date (YTD), BTDR shares are showing a performance of 3.14% which decreased to -19.35% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.77 but also hit the highest price of $14.65 during that period. The average intraday trading volume for Bitdeer Technologies Holding Co shares is 1.55 million. The stock is currently trading 0.71% above its 20-day simple moving average (SMA20), while that difference is up 32.79% for SMA50 and it goes to 47.39% higher than SMA200.

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Bitdeer Technologies Holding Co (NASDAQ: BTDR) currently have 63.57M outstanding shares and institutions hold larger chunk of about 3.27% of that.

The stock has a current market capitalization of $1.41B and its 3Y-monthly beta is at 1.96. It has posted earnings per share of -$1.24 in the same period. It has a debt-to-equity ratio of 0.25. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BTDR, volatility over the week remained 12.27% while standing at 13.02% over the month.

Stock’s fiscal year EPS is expected to drop by -29.88% while it is estimated to increase by 267.57% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Cantor Fitzgerald on June 11, 2024 offering an Overweight rating for the stock and assigned a target price of $13 to it. Coverage by Needham stated Bitdeer Technologies Holding Co (BTDR) stock as a Buy in their note to investors on April 15, 2024, suggesting a price target of $14 for the stock. On April 09, 2024, Rosenblatt Initiated their recommendations, while on March 14, 2024, The Benchmark Company Initiated their ratings for the stock with a price target of $13. Stock get a Buy rating from BTIG Research on March 13, 2024.

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