Bitdeer Technologies Group (NASDAQ:BTDR) Receives $14.00 Consensus Target Price from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.00.

A number of equities analysts have recently commented on BTDR shares. Roth Mkm reaffirmed a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Rosenblatt Securities restated a “buy” rating and issued a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, August 14th. Benchmark reaffirmed a “buy” rating and issued a $16.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. HC Wainwright lowered their price target on Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, B. Riley upped their price objective on Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, July 12th.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of large investors have recently modified their holdings of BTDR. Point72 Asset Management L.P. purchased a new stake in shares of Bitdeer Technologies Group in the second quarter valued at approximately $4,617,000. Millennium Management LLC boosted its position in shares of Bitdeer Technologies Group by 901.0% during the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after purchasing an additional 369,363 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth $4,510,000. Marshall Wace LLP acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth $5,074,000. Finally, D1 Capital Partners L.P. purchased a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at about $5,386,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $7.06 on Tuesday. The company has a market capitalization of $790.48 million, a P/E ratio of -18.20 and a beta of 1.92. Bitdeer Technologies Group has a fifty-two week low of $2.77 and a fifty-two week high of $14.27. The stock 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 released its quarterly 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 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%. As a group, analysts forecast that Bitdeer Technologies Group will post -0.17 earnings per share for the current year.

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.