Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down to $11.61

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $11.61, but opened at $11.22. Bitdeer Technologies Group shares last traded at $11.15, with a volume of 367,776 shares trading hands.

Analyst Ratings Changes

Several analysts have issued reports on BTDR shares. Roth Mkm restated a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Monday. B. Riley assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, May 15th. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. Finally, 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. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $13.56.

Bitdeer Technologies Group Stock Performance

The stock has a fifty day moving average price of $7.19 and a 200 day moving average price of $7.37.

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 firm had revenue of $119.51 million during the quarter, compared to analyst estimates of $119.12 million. Analysts expect that Bitdeer Technologies Group will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Barclays PLC acquired a new position in Bitdeer Technologies Group during the 3rd quarter valued at $49,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bitdeer Technologies Group by 149.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after buying an additional 23,310 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at about $240,000. Virtu Financial LLC acquired a new stake in Bitdeer Technologies Group during the first quarter worth about $431,000. Finally, Van ECK Associates Corp lifted its position in shares of Bitdeer Technologies Group by 10.5% in the 1st quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock worth $8,537,000 after acquiring an additional 115,882 shares during the period. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.