Bitdeer Technologies Group (NASDAQ:BTDR) Rating Increased to Strong-Buy at Northland Capmk

Bitdeer Technologies Group (NASDAQ:BTDR) was upgraded by Northland Capmk to a “strong-buy” rating in a research report issued on Wednesday, Zacks.com reports.

A number of other analysts have also weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $9.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. HC Wainwright dropped 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, B. Riley raised their price target on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $13.90.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR opened at $6.87 on Wednesday. The business’s 50 day moving average is $7.05 and its two-hundred day moving average is $7.56. Bitdeer Technologies Group has a 1-year low of $2.77 and a 1-year high of $14.27. The stock has a market capitalization of $769.21 million, a P/E ratio of -16.34 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its 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 for 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%. As a group, equities research analysts anticipate that Bitdeer Technologies Group will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors have recently modified their holdings of BTDR. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Bitdeer Technologies Group during the second quarter worth $272,000. XTX Topco Ltd acquired a new position in shares of Bitdeer Technologies Group during the second quarter worth about $276,000. Symmetry Investments LP acquired a new position in shares of Bitdeer Technologies Group during the second quarter worth about $432,000. Virtu Financial LLC acquired a new position in Bitdeer Technologies Group during the first quarter worth about $431,000. Finally, Thomist Capital Management LP acquired a new position in Bitdeer Technologies Group during the second quarter worth about $1,156,000. 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.