Bitdeer Technologies Holding Co (NASDAQ: BTDR)’s stock price has gone decline by -8.12 in comparison to its previous close of 8.44, however, the company has experienced a 9.07% increase in its stock price over the last five trading days. globenewswire.com reported 2024-08-16 that SINGAPORE, Aug. 16, 2024 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (Nasdaq: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced the pricing of its underwritten public offering (the “Offering”) of US$150,000,000 aggregate principal amount of 8.50% convertible senior notes due 2029 (the “Notes”). The sale of the Notes is expected to close on August 20, 2024, subject to customary closing conditions. The Company also granted the underwriters in the Offering a 30-day option to purchase up to an additional US$22,500,000 aggregate principal amount of Notes on the same terms and conditions, solely to cover over-allotments.
Is It Worth Investing in Bitdeer Technologies Holding Co (NASDAQ: BTDR) Right Now?
The stock has a 36-month beta value of 1.92. Opinions on the stock are mixed, with 8 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for BTDR is 34.24M, and at present, short sellers hold a 30.38% of that float. On September 30, 2024, the average trading volume of BTDR was 2.75M shares.
BTDR’s Market Performance
BTDR’s stock has seen a 9.07% increase for the week, with a 17.32% rise in the past month and a -26.77% fall in the past quarter. The volatility ratio for the week is 7.14%, and the volatility levels for the past 30 days are at 7.78% for Bitdeer Technologies Holding Co The simple moving average for the past 20 days is 14.73% for BTDR’s stock, with a 2.05% simple moving average for the past 200 days.
Analysts’ Opinion of BTDR
Many brokerage firms have already submitted their reports for BTDR stocks, with Rosenblatt repeating the rating for BTDR by listing it as a “Buy.” The predicted price for BTDR in the upcoming period, according to Rosenblatt is $9 based on the research report published on August 14, 2024 of the current year 2024.
Cantor Fitzgerald, on the other hand, stated in their research note that they expect to see BTDR reach a price target of $13. The rating they have provided for BTDR stocks is “Overweight” according to the report published on June 11th, 2024.
Needham gave a rating of “Buy” to BTDR, setting the target price at $14 in the report published on April 15th of the current year.
BTDR Trading at 2.06% from the 50-Day Moving Average
After a stumble in the market that brought BTDR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -45.66% of loss for the given period.
Volatility was left at 7.78%, however, over the last 30 days, the volatility rate increased by 7.14%, as shares surge +18.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -29.19% lower at present.
During the last 5 trading sessions, BTDR rose by +9.41%, which changed the moving average for the period of 200-days by +30.74% in comparison to the 20-day moving average, which settled at $6.82. In addition, Bitdeer Technologies Holding Co saw -21.35% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for BTDR
Current profitability levels for the company are sitting at:
- -0.01 for the present operating margin
- 0.25 for the gross margin
The net margin for Bitdeer Technologies Holding Co stands at -0.06. The total capital return value is set at -0.01.
Based on Bitdeer Technologies Holding Co (BTDR), the company’s capital structure generated 0.08 points at debt to capital in total, while cash flow to debt ratio is standing at -0.78.
Currently, EBITDA for the company is 46.52 million with net debt to EBITDA at -26.54. When we switch over and look at the enterprise to sales, we see a ratio of 2.35. The receivables turnover for the company is 16.46for trailing twelve months and the total asset turnover is 0.51. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.73.
Conclusion
To sum up, Bitdeer Technologies Holding Co (BTDR) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
