B. Riley Boosts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $14.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price raised by investment analysts at B. Riley from $9.00 to $14.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price target suggests a potential upside of 37.52% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Benchmark reaffirmed a “buy” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, April 15th. Cantor Fitzgerald raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, June 12th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. Roth Mkm reaffirmed a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Finally, Rosenblatt Securities initiated coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They set a “buy” rating and a $10.50 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $14.19.

Bitdeer Technologies Group Stock Up 0.1 %

Shares of Bitdeer Technologies Group stock traded up $0.01 during trading on Friday, reaching $10.18. 410,056 shares of the company were exchanged, compared to its average volume of 1,725,769. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.65. The business has a 50-day moving average price of $7.95 and a 200-day moving average price of $7.53. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -24.83 and a beta of 1.96.

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

Institutional Trading of Bitdeer Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Bitdeer Technologies Group in the first quarter valued at approximately $431,000. Vident Advisory LLC raised its stake in Bitdeer Technologies Group by 186.4% in the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after buying an additional 565,362 shares during the period. Van ECK Associates Corp raised its stake in 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 valued at $8,537,000 after buying an additional 115,882 shares during the period. Nomura Holdings Inc. bought a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $15,350,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $1,199,000. Institutional investors 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.