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

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target cut by stock analysts at B. Riley from $14.00 to $12.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 62.60% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a research note on Tuesday. They issued a “buy” rating and a $14.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, September 26th. Northland Securities started coverage on shares of Bitdeer Technologies Group in a report on Wednesday. They set an “outperform” rating and a $13.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $13.70.

Bitdeer Technologies Group Trading Up 7.4 %

Shares of NASDAQ BTDR traded up $0.51 during midday trading on Friday, reaching $7.38. The company’s stock had a trading volume of 1,010,524 shares, compared to its average volume of 1,978,547. Bitdeer Technologies Group has a one year low of $2.77 and a one year high of $14.27. The company has a market cap of $826.34 million, a price-to-earnings ratio of -38.79 and a beta of 1.92. The company has a 50 day moving average price of $7.02 and a 200 day moving average price of $7.55.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its 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 company had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. Research analysts anticipate that Bitdeer Technologies Group will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BTDR. Nomura Holdings Inc. bought a new position in Bitdeer Technologies Group during the fourth quarter valued at about $15,350,000. Van ECK Associates Corp lifted its position in Bitdeer Technologies Group by 10.5% in the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock worth $8,537,000 after purchasing an additional 115,882 shares during the period. Vident Advisory LLC increased its holdings in Bitdeer Technologies Group by 186.4% in the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after buying an additional 565,362 shares during the period. Virtu Financial LLC bought a new position in shares of Bitdeer Technologies Group during the 1st quarter worth about $431,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at about $272,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.