Bitdeer Technologies Group (NASDAQ:BTDR) Rating Increased to Strong-Buy at Cantor Fitzgerald

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) was upgraded by equities research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Wednesday, Zacks.com reports.

Several other research analysts have also issued reports on the company. B. Riley assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a “buy” rating and a $9.00 target price for the company. Rosenblatt Securities assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price objective for the company. BTIG Research assumed coverage on Bitdeer Technologies Group in a research report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, April 15th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Bitdeer Technologies Group presently has an average rating of “Buy” and an average price target of $13.56.

Check Out Our Latest Stock Analysis on Bitdeer Technologies Group

Bitdeer Technologies Group Trading Up 20.7 %

Shares of NASDAQ BTDR opened at $9.85 on Wednesday. The firm has a market cap of $1.10 billion, a P/E ratio of -24.02 and a beta of 1.79. Bitdeer Technologies Group has a 1-year low of $2.77 and a 1-year high of $14.65. The business’s 50 day moving average is $6.28 and its 200-day moving average is $6.97.

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) last issued its quarterly 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). The company had revenue of $119.51 million for the quarter, compared to analyst estimates of $119.12 million. Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. Analysts forecast that Bitdeer Technologies Group will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $49,000. Swiss National Bank bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $604,000. Exchange Traded Concepts LLC raised its holdings in shares of Bitdeer Technologies Group by 83.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after purchasing an additional 243,245 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bitdeer Technologies Group by 149.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after purchasing an additional 23,310 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $240,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Bitdeer Technologies Group (NASDAQ:BTDR)

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