Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $12.00 at B. Riley

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target decreased by B. Riley from $14.00 to $12.00 in a research report released on Friday morning, Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Benchmark restated a buy rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Roth Mkm reissued a buy rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a buy rating and a $14.00 price objective on the stock. Rosenblatt Securities reiterated a buy rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. Finally, Northland Securities assumed coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, October 9th. They issued an outperform rating and a $13.00 target price for the company. Ten equities research 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 company presently has an average rating of Buy and an average target price of $13.70.

Bitdeer Technologies Group Trading Up 7.4 %

BTDR stock opened at $8.13 on Friday. Bitdeer Technologies Group has a 1-year low of $2.77 and a 1-year high of $14.27. The business’s 50 day simple moving average is $7.04 and its 200 day simple moving average is $7.57. The firm has a market capitalization of $910.28 million, a PE ratio of -19.83 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.06). The company had revenue of $99.23 million during the quarter, compared to analyst estimates of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. As a group, sell-side analysts predict that Bitdeer Technologies Group will post -0.31 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in BTDR. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Bitdeer Technologies Group during the second quarter valued at approximately $272,000. XTX Topco Ltd acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth $276,000. Virtu Financial LLC acquired a new position in shares of Bitdeer Technologies Group during the 1st quarter worth $431,000. Symmetry Investments LP bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth $432,000. Finally, Thomist Capital Management LP acquired a new stake in Bitdeer Technologies Group in the second quarter valued at about $1,156,000. 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.