Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down to $8.44

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped down prior to trading on Monday . The stock had previously closed at $8.44, but opened at $7.65. Bitdeer Technologies Group shares last traded at $7.66, with a volume of 1,018,569 shares changing hands.

Wall Street Analysts Forecast Growth

BTDR has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday. Benchmark reissued a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Rosenblatt Securities restated a “buy” rating and issued a $9.00 price objective on shares of Bitdeer Technologies Group in a research report on Wednesday, August 14th. Roth Mkm reiterated a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, September 3rd. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Bitdeer Technologies Group presently has an average rating of “Buy” and an average price target of $14.00.

Bitdeer Technologies Group Stock Performance

The firm’s 50-day simple moving average is $7.51 and its 200 day simple moving average is $7.58. The company has a market cap of $868.86 million, a P/E ratio of -19.10 and a beta of 1.90.

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 analysts’ consensus estimates of $0.03 by ($0.06). Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. The company had revenue of $99.23 million during the quarter, compared to the consensus estimate of $110.79 million. As a group, research analysts forecast that Bitdeer Technologies Group will post -0.17 earnings per share for the current year.

Institutional Trading of Bitdeer Technologies Group

Hedge funds have recently modified their holdings of the company. 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 bought a new position in shares of Bitdeer Technologies Group during the second quarter worth $276,000. Virtu Financial LLC acquired a new position in shares of Bitdeer Technologies Group in the 1st quarter valued at $431,000. Symmetry Investments LP bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at $432,000. Finally, Thomist Capital Management LP bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at $1,156,000. 22.25% of the stock is currently 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.