Bitdeer Technologies Group (NASDAQ:BTDR) Given Buy Rating at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a report published on Monday, Benzinga reports. The firm currently has a $14.00 price objective on the stock.

A number of other research analysts have also commented on the company. Benchmark reiterated a buy rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, April 15th. Cantor Fitzgerald upgraded Bitdeer Technologies Group to a strong-buy rating in a research report on Wednesday, June 12th. B. Riley assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, March 12th. They issued a buy rating and a $9.00 price objective on the stock. Needham & Company LLC reiterated a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Wednesday, May 15th. Finally, HC Wainwright reiterated a buy rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $13.56.

Bitdeer Technologies Group Price Performance

NASDAQ BTDR opened at $10.59 on Monday. The firm has a market cap of $1.19 billion, a PE ratio of -25.83 and a beta of 1.96. Bitdeer Technologies Group has a one year low of $2.77 and a one year high of $14.65. The stock’s 50 day simple moving average is $7.09 and its 200 day simple moving average is $7.35.

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

Institutional Trading of Bitdeer Technologies Group

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Bitdeer Technologies Group during the 1st quarter worth $431,000. Vident Advisory LLC raised its stake in Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after buying an additional 565,362 shares during the period. Van ECK Associates Corp raised its stake in Bitdeer Technologies Group by 10.5% during the 1st quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock worth $8,537,000 after buying an additional 115,882 shares during the period. Nomura Holdings Inc. acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth $15,350,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth $1,199,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

About Bitdeer Technologies Group

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.