Bitdeer Technologies Holding Co (NASDAQ:BTDR) price on Thursday, December 26, rose 3.82% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $24.46.
A look at the stock’s price movement, the close in the last trading session was $23.56, moving within a range at $22.71 and $25.12. The beta value (5-Year monthly) was 1.921. Turning to its 52-week performance, $25.51 and $5.23 were the 52-week high and 52-week low respectively. Overall, BTDR moved 98.38% over the past month.
Bitdeer Technologies Holding Co’s market cap currently stands at around $3.42 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 72.14M for the company’s revenue for the quarter, with a low and high estimate of 62.1M and 97.89M respectively. The average forecast suggests down to a -37.19% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 352.16M, representing a -4.45% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BTDR is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend BTDR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BTDR’s current price about 28.10% and 83.37% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 69.67, while 7-day volatility ratio is 13.14% and 15.91% in the 30-day chart. Further, Bitdeer Technologies Holding Co (BTDR) has a beta value of 2.22, and an average true range (ATR) of 2.76. Analysts have given the company’s stock an average 52-week price target of $13.5, forecast between a low of $9 and high of $29. Looking at the price targets, the low is 63.21% off current price level while to achieve the yearly target high, price needs to move -18.56%. Nonetheless, investors will most likely welcome a 44.81% jump to $13.5 which is the analysts’ median price.
If we refocus on Bitdeer Technologies Holding Co (NASDAQ:BTDR), historical trading data shows that trading volumes averaged 11.12 over the past 10 days and 6.24 million over the past 3 months. The company’s latest data on shares outstanding shows there are 139.78 million shares.
The 75.74% of Bitdeer Technologies Holding Co’s shares are in the hands of company insiders while institutional holders own 10.21% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 10.71 million on 2024-10-31, giving us a short ratio of 4.58. The data shows that as of 2024-10-31 short interest in Bitdeer Technologies Holding Co (BTDR) stood at 1043.99994 of shares outstanding, with shares short rising to 10.25 million registered in 2024-09-30. Current price change has pushed the stock 148.07% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BTDR stock continues to rise going into the next quarter.
