Bitdeer Technologies Holding Co (NASDAQ: BTDR)’s stock price has gone rise by 6.85 in comparison to its previous close of 11.54, however, the company has experienced a 4.05% increase in its stock price over the last five trading days. globenewswire.com reported 2024-11-22 that SINGAPORE, Nov. 22, 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 US$360.0 million principal amount of 5.25% Convertible Senior Notes due 2029 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company has also granted the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional US$40.0 million principal amount of the notes. The sale of the notes is expected to close on November 26, 2024, subject to customary closing conditions.
Is It Worth Investing in Bitdeer Technologies Holding Co (NASDAQ: BTDR) Right Now?
BTDR has 36-month beta value of 2.07. Analysts have mixed views on the stock, with 8 analysts rating it as a “buy,” 3 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for BTDR is 33.91M, and currently, short sellers hold a 31.58% ratio of that float. The average trading volume of BTDR on November 26, 2024 was 3.37M shares.
BTDR’s Market Performance
The stock of Bitdeer Technologies Holding Co (BTDR) has seen a 4.05% increase in the past week, with a 63.75% rise in the past month, and a 75.39% gain in the past quarter. The volatility ratio for the week is 15.21%, and the volatility levels for the past 30 days are at 13.70% for BTDR. The simple moving average for the past 20 days is 23.35% for BTDR’s stock, with a 58.65% simple moving average for the past 200 days.
Analysts’ Opinion of BTDR
Many brokerage firms have already submitted their reports for BTDR stocks, with Northland Capital repeating the rating for BTDR by listing it as a “Outperform.” The predicted price for BTDR in the upcoming period, according to Northland Capital is $13 based on the research report published on October 09, 2024 of the current year 2024.
Alliance Global Partners, on the other hand, stated in their research note that they expect to see BTDR reach a price target of $14. The rating they have provided for BTDR stocks is “Buy” according to the report published on October 08th, 2024.
Rosenblatt gave a rating of “Buy” to BTDR, setting the target price at $9 in the report published on August 14th of the current year.
BTDR Trading at 44.16% 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 -13.59% of loss for the given period.
Volatility was left at 13.70%, however, over the last 30 days, the volatility rate increased by 15.21%, as shares surge +31.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +78.44% upper at present.
During the last 5 trading sessions, BTDR rose by +4.05%, which changed the moving average for the period of 200-days by +56.27% in comparison to the 20-day moving average, which settled at $10.00. In addition, Bitdeer Technologies Holding Co saw 25.05% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for BTDR
Current profitability levels for the company are sitting at:
- -0.18 for the present operating margin
- 0.22 for the gross margin
The net margin for Bitdeer Technologies Holding Co stands at -0.18. The total capital return value is set at -0.08.
Based on Bitdeer Technologies Holding Co (BTDR), the company’s capital structure generated 0.15 points at debt to capital in total, while cash flow to debt ratio is standing at -1.78.
Currently, EBITDA for the company is 27.4 million with net debt to EBITDA at 11.66. When we switch over and look at the enterprise to sales, we see a ratio of 4.05. The receivables turnover for the company is 16.04for trailing twelve months and the total asset turnover is 0.38. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.49.
Conclusion
To put it simply, Bitdeer Technologies Holding Co (BTDR) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
