Bitdeer Technologies Group (NASDAQ:BTDR) Coverage Initiated by Analysts at Northland Securities

Northland Securities initiated coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note issued on Wednesday, MarketBeat reports. The firm set an “outperform” rating and a $13.00 price target on the stock. Northland Securities’ target price would indicate a potential upside of 89.23% from the stock’s previous close.

A number of other equities analysts also recently weighed in on BTDR. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Thursday, September 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $9.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday. Roth Mkm reissued a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. HC Wainwright lowered their target price on Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $13.90.

Bitdeer Technologies Group Trading Up 1.5 %

BTDR opened at $6.87 on Wednesday. The stock has a market capitalization of $769.21 million, a P/E ratio of -16.76 and a beta of 1.92. Bitdeer Technologies Group has a 12 month low of $2.77 and a 12 month high of $14.27. The firm’s fifty day simple moving average is $7.05 and its 200 day simple moving average is $7.56.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued 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 firm had revenue of $99.23 million during the quarter, compared to the consensus estimate of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. On average, equities research analysts predict that Bitdeer Technologies Group will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at $15,350,000. Van ECK Associates Corp increased its position in shares of 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. Point72 Hong Kong Ltd acquired a new position in Bitdeer Technologies Group in the second quarter valued at about $4,510,000. Thomist Capital Management LP bought a new stake in Bitdeer Technologies Group during the second quarter worth about $1,156,000. Finally, D1 Capital Partners L.P. bought a new stake in Bitdeer Technologies Group during the second quarter worth about $5,386,000. 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.