Bitdeer Technologies Group (NASDAQ:BTDR) Earns “Overweight” Rating from Cantor Fitzgerald

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $13.00 target price on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 90.90% from the company’s current price.

Several other research firms have also recently weighed in on BTDR. Benchmark reaffirmed a “buy” rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Rosenblatt Securities reissued a “buy” rating and issued a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, August 14th. HC Wainwright decreased their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Roth Mkm reiterated a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, July 1st. Finally, B. Riley boosted their price objective on 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, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.00.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock traded down $0.12 during trading on Thursday, hitting $6.81. 471,278 shares of the company’s stock traded hands, compared to its average volume of 1,996,702. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.27. The stock has a market capitalization of $762.49 million, a P/E ratio of -16.63 and a beta of 1.90. The business has a 50-day simple moving average of $7.29 and a 200-day simple moving average of $7.58.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share 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 for the quarter, compared to analysts’ expectations of $110.79 million. On average, equities analysts predict that Bitdeer Technologies Group will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $15,350,000. Van ECK Associates Corp increased its holdings in Bitdeer Technologies Group by 10.5% during the 1st quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock valued at $8,537,000 after acquiring an additional 115,882 shares in the last quarter. Vident Advisory LLC boosted its stake in Bitdeer Technologies Group by 186.4% in the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after buying an additional 565,362 shares during the last quarter. D1 Capital Partners L.P. purchased a new stake in Bitdeer Technologies Group during the second quarter worth approximately $5,386,000. Finally, Marshall Wace LLP purchased a new stake in Bitdeer Technologies Group during the 2nd quarter worth $5,074,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

About Bitdeer Technologies Group

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.