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Strength Seen in BITDEER TEC GRP (BTDR): Can Its 7.6% Jump Turn into More Strength?

Zacks Equity Research
·2 min read

Bitdeer Technologies Group (BTDR) shares ended the trading session on Monday 7.6% higher at $12.42. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 58.1% gain over the past four weeks.

The stock is benefiting from the company’s increased revenue generation capacity due to strong self-mining business resulting from increased self-mining hash rate and Bitcoin production.

This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -66.7%. Revenues are expected to be $109.7 million, up 16.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For BITDEER TEC GRP, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BTDR going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

BITDEER TEC GRP is a member of the Zacks Technology Services industry. One other stock in the same industry, Jacobs Solutions (J), finished the last trading session 0.7% higher at $137.66. J has returned -1.7% over the past month.

Jacobs Solutions' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.96. Compared to the company's year-ago EPS, this represents a change of +7.7%. Jacobs Solutions currently boasts a Zacks Rank of #4 (Sell).

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Bitdeer Technologies Group (BTDR) : Free Stock Analysis Report

Jacobs Solutions Inc. (J) : Free Stock Analysis Report

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Zacks Investment Research