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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $13.70.

BTDR has been the topic of several research analyst reports. Northland Securities assumed coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $13.00 price target on the stock. B. Riley decreased their price objective on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Benchmark reaffirmed a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake 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 acquiring an additional 115,882 shares during the period. Vident Advisory LLC lifted its position in shares of 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 purchasing an additional 565,362 shares during the period. D1 Capital Partners L.P. bought a new position in shares of Bitdeer Technologies Group during the second quarter valued at approximately $5,386,000. Marshall Wace LLP bought a new position in Bitdeer Technologies Group in the second quarter worth approximately $5,074,000. Finally, Point72 Asset Management L.P. purchased a new stake in Bitdeer Technologies Group during the second quarter worth $4,617,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Up 0.5 %

NASDAQ:BTDR opened at $7.83 on Friday. The stock has a market cap of $876.73 million, a PE ratio of -41.21 and a beta of 1.92. The business’s 50-day simple moving average is $7.28 and its two-hundred day simple moving average is $7.71. Bitdeer Technologies Group has a 52 week low of $3.49 and a 52 week high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The business had revenue of $99.23 million during the quarter, compared to analysts’ expectations of $110.79 million. Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. Sell-side analysts anticipate that Bitdeer Technologies Group will post -0.47 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.