Bitdeer Technologies Group (NASDAQ:BTDR) Given Average Recommendation of “Buy” by Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received a consensus recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $14.00.

A number of research firms have recently commented on BTDR. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, September 26th. Roth Mkm reiterated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. B. Riley boosted their price target 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. Benchmark reaffirmed a “buy” rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Thursday.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nomura Holdings Inc. bought a new position in Bitdeer Technologies Group in the fourth quarter valued at about $15,350,000. Van ECK Associates Corp raised its stake 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 during the last quarter. Vident Advisory LLC raised its stake in shares of Bitdeer Technologies Group by 186.4% during the first 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. acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth $5,386,000. Finally, Marshall Wace LLP acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at $5,074,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $7.30 on Tuesday. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.27. The stock has a market cap of $817.35 million, a PE ratio of -17.80 and a beta of 1.92. The firm has a 50-day simple moving average of $7.19 and a 200 day simple moving average of $7.57.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.06). The firm had revenue of $99.23 million for 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 earnings per share for the current fiscal year.

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.