Bitdeer Technologies Group’s (BTDR) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a report published on Thursday, Benzinga reports. The firm currently has a $14.00 price objective on the stock.

BTDR has been the subject of a number of other research reports. Cantor Fitzgerald reissued an overweight rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, September 3rd. Benchmark reissued a buy rating and issued a $16.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. HC Wainwright cut their price target on Bitdeer Technologies Group from $20.00 to $17.00 and set a buy rating on the stock in a research note on Tuesday, August 13th. B. Riley lifted their price objective on Bitdeer Technologies Group from $9.00 to $14.00 and gave the stock a buy rating in a research report on Friday, July 12th. Finally, Rosenblatt Securities restated a buy rating and set a $9.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $14.00.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $8.44 on Thursday. The business’s fifty day moving average is $7.51 and its two-hundred day moving average is $7.58. The firm has a market cap of $945.03 million, a P/E ratio of -20.58 and a beta of 1.90. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.06). The company 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%. On average, equities research analysts predict that Bitdeer Technologies Group will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Bitdeer Technologies Group in the 2nd quarter valued at approximately $272,000. XTX Topco Ltd bought a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $276,000. Virtu Financial LLC acquired a new stake in shares of Bitdeer Technologies Group in the first quarter valued at approximately $431,000. Symmetry Investments LP bought a new stake in shares of Bitdeer Technologies Group in the second quarter worth $432,000. Finally, Thomist Capital Management LP acquired a new position in Bitdeer Technologies Group during the second quarter worth $1,156,000. 22.25% of the stock is owned by institutional investors.

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.