Bitdeer Technologies Group (NASDAQ:BTDR) Receives $14.00 Consensus PT from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $14.00.

Several research firms have recently commented on BTDR. Benchmark reaffirmed a “buy” rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. HC Wainwright dropped their target price on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, September 26th. Finally, B. Riley boosted their price objective on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, July 12th.

Bitdeer Technologies Group Trading Up 0.2 %

BTDR stock opened at $6.95 on Tuesday. The stock has a 50-day moving average price of $7.24 and a two-hundred day moving average price of $7.57. The company has a market cap of $777.60 million, a PE ratio of -16.94 and a beta of 1.92. Bitdeer Technologies Group has a 12-month low of $2.77 and a 12-month high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.06). The business 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%. Equities analysts forecast that Bitdeer Technologies Group will post -0.17 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

A number of large investors have recently bought and sold shares of BTDR. Nomura Holdings Inc. bought a new position in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $15,350,000. Van ECK Associates Corp lifted its holdings in shares of Bitdeer Technologies Group by 10.5% during the first 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 in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Bitdeer Technologies Group during the second quarter worth $4,510,000. Thomist Capital Management LP acquired a new position in Bitdeer Technologies Group in the second quarter valued at about $1,156,000. Finally, Point72 Asset Management L.P. acquired a new position in Bitdeer Technologies Group in the second quarter valued at about $4,617,000. 22.25% of the stock is 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.