Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 6.1%

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price was up 6.1% during trading on Thursday . The company traded as high as $9.80 and last traded at $9.63. Approximately 295,302 shares changed hands during trading, a decline of 80% from the average daily volume of 1,470,680 shares. The stock had previously closed at $9.08.

Analysts Set New Price Targets

A number of equities analysts recently commented on BTDR shares. BTIG Research started coverage on Bitdeer Technologies Group in a research note on Wednesday, March 13th. They set a “buy” rating and a $15.00 price target for the company. Cantor Fitzgerald raised Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, June 12th. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, June 11th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, May 15th. Finally, Benchmark reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $13.56.

Bitdeer Technologies Group Stock Down 3.5 %

The stock has a market cap of $1.06 billion, a P/E ratio of -23.19 and a beta of 1.79. The business has a 50 day moving average price of $6.61 and a 200 day moving average price of $7.17.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Monday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The firm had revenue of $119.51 million during the quarter, compared to analysts’ expectations of $119.12 million. Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. On average, research analysts expect that Bitdeer Technologies Group will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

A number of large investors have recently modified their holdings of BTDR. Barclays PLC purchased a new stake in shares of Bitdeer Technologies Group in the third quarter valued at approximately $49,000. Vontobel Holding Ltd. purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $240,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Bitdeer Technologies Group by 149.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after purchasing an additional 23,310 shares during the period. Virtu Financial LLC purchased a new stake in shares of Bitdeer Technologies Group in the first quarter valued at approximately $431,000. Finally, Swiss National Bank purchased a new stake in shares of Bitdeer Technologies Group in the third quarter valued at approximately $604,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.