Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up to $7.12

Bitdeer Technologies Group (NASDAQ:BTDR) shares gapped up prior to trading on Thursday . The stock had previously closed at $7.12, but opened at $7.54. Bitdeer Technologies Group shares last traded at $7.40, with a volume of 237,280 shares trading hands.

Analyst Upgrades and Downgrades

BTDR has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $9.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, August 14th. Benchmark restated a “buy” rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, September 3rd. HC Wainwright decreased their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, B. Riley increased their price target on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a “buy” rating in a report on Friday, July 12th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.00.

Bitdeer Technologies Group Stock Up 0.3 %

The firm has a market capitalization of $799.44 million, a P/E ratio of -17.37 and a beta of 1.90. The business’s 50 day moving average is $7.95 and its 200-day moving average is $7.54.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The firm had revenue of $99.23 million during the quarter, compared to analyst estimates of $110.79 million. Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. Research analysts forecast that Bitdeer Technologies Group will post -0.17 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at $15,350,000. Vident Advisory LLC lifted its position in Bitdeer Technologies Group by 186.4% in the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after acquiring an additional 565,362 shares in the last quarter. D1 Capital Partners L.P. acquired a new position in Bitdeer Technologies Group during the 2nd quarter valued at about $5,386,000. Marshall Wace LLP acquired a new position in Bitdeer Technologies Group during the 2nd quarter valued at about $5,074,000. Finally, Point72 Asset Management L.P. bought a new stake in Bitdeer Technologies Group during the 2nd quarter worth approximately $4,617,000. 22.25% of the stock is currently owned by institutional investors.

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.