Bitdeer Technologies Group (NASDAQ:BTDR) Sees Large Volume Increase

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) saw strong trading volume on Friday . 608,703 shares traded hands during mid-day trading, a decline of 63% from the previous session’s volume of 1,662,287 shares.The stock last traded at $11.28 and had previously closed at $11.83.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Roth Mkm reissued a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Monday. Cantor Fitzgerald raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, June 12th. BTIG Research assumed coverage on Bitdeer Technologies Group in a research report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. Finally, Benchmark reissued a “buy” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, April 15th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $13.56.

Bitdeer Technologies Group Trading Down 5.5 %

The company has a 50-day moving average of $7.40 and a 200-day moving average of $7.44. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -26.93 and a beta of 1.96.

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

Institutional Trading of Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. purchased a new stake in Bitdeer Technologies Group during the 4th quarter valued at about $240,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Bitdeer Technologies Group by 149.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after purchasing an additional 23,310 shares during the last quarter. Virtu Financial LLC purchased a new stake in Bitdeer Technologies Group during the 1st quarter valued at about $431,000. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Bitdeer Technologies Group during the 4th quarter valued at about $1,199,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Bitdeer Technologies Group by 83.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after buying an additional 243,245 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.