Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up to $10.59

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $10.59, but opened at $10.86. Bitdeer Technologies Group shares last traded at $11.15, with a volume of 325,406 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BTDR. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, May 15th. Roth Mkm reaffirmed a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Monday. Rosenblatt Securities began coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, April 9th. They set a “buy” rating and a $10.50 price target for the company. B. Riley began coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a “buy” rating and a $9.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, June 11th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $13.56.

Bitdeer Technologies Group Stock Up 3.9 %

The business’s 50 day moving average is $7.09 and its 200 day moving average is $7.35.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued 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 business had revenue of $119.51 million for the quarter, compared to analyst estimates of $119.12 million. Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. On average, analysts forecast that Bitdeer Technologies Group will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its position in shares of Bitdeer Technologies Group by 196.2% during the fourth quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock worth $10,848,000 after purchasing an additional 728,804 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Bitdeer Technologies Group by 83.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after buying an additional 243,245 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at $15,350,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Bitdeer Technologies Group by 149.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after buying an additional 23,310 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at $1,199,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.