Bitdeer Technologies Group (NASDAQ:BTDR) Receives $13.56 Average Target Price from Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has been assigned a consensus recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $13.56.

A number of research analysts have recently commented on the company. Cantor Fitzgerald upgraded Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, June 12th. BTIG Research began coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday, May 15th. Benchmark reissued a “buy” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, April 15th. Finally, B. Riley began coverage on Bitdeer Technologies Group in a research report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price objective for the company.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $49,000. Vontobel Holding Ltd. bought a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $240,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Bitdeer Technologies Group by 149.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after acquiring an additional 23,310 shares during the period. Virtu Financial LLC bought a new stake in shares of Bitdeer Technologies Group during the 1st quarter valued at $431,000. Finally, Swiss National Bank acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at $604,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Trading Up 4.9 %

NASDAQ BTDR opened at $10.26 on Friday. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.65. The company has a fifty day simple moving average of $7.01 and a 200 day simple moving average of $7.31. The company has a market cap of $1.15 billion, a P/E ratio of -25.02 and a beta of 1.79.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Monday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities research analysts forecast that Bitdeer Technologies Group will post -0.01 EPS for the current fiscal year.

Bitdeer Technologies Group Company Profile

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.