Analysts Set Bitdeer Technologies Group (NASDAQ:BTDR) PT at $13.56

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned an average rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $13.56.

A number of research analysts have issued reports on the company. Rosenblatt Securities assumed coverage on Bitdeer Technologies Group in a research note on Tuesday, April 9th. They issued a “buy” rating and a $10.50 target price for the company. B. Riley initiated coverage on Bitdeer Technologies Group in a research note on Tuesday, March 12th. They issued a “buy” rating and a $9.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. Roth Mkm initiated coverage on Bitdeer Technologies Group in a research report on Thursday, February 29th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, April 15th.

Bitdeer Technologies Group Trading Up 5.7 %

NASDAQ BTDR opened at $9.78 on Friday. Bitdeer Technologies Group has a 12 month low of $2.77 and a 12 month high of $14.65. The company has a market capitalization of $1.10 billion, a PE ratio of -23.27 and a beta of 1.79. The stock has a 50-day simple moving average of $6.85 and a 200 day simple moving average of $7.26.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Monday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. The business had revenue of $119.51 million during the quarter, compared to analyst estimates of $119.12 million. As a group, sell-side analysts predict that Bitdeer Technologies Group will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Nomura Holdings Inc. acquired a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $15,350,000. Van ECK Associates Corp boosted its position in 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 valued at $8,537,000 after purchasing an additional 115,882 shares during the last quarter. Vident Advisory LLC raised its stake in Bitdeer Technologies Group by 186.4% in the first 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. Exchange Traded Concepts LLC raised its stake in Bitdeer Technologies Group by 83.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after buying an additional 243,245 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $1,199,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.