Roth Mkm Reiterates “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Roth Mkm restated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research report released on Monday morning, Benzinga reports. The firm currently has a $14.00 target price on the stock.

Several other analysts have also recently commented on BTDR. Benchmark reiterated a buy rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. B. Riley initiated coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a buy rating and a $9.00 price target on the stock. Cantor Fitzgerald raised shares of Bitdeer Technologies Group to a strong-buy rating in a research report on Wednesday, June 12th. Needham & Company LLC reissued a buy rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, May 15th. Finally, HC Wainwright reaffirmed a buy rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, June 11th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $13.56.

Bitdeer Technologies Group Trading Up 1.9 %

Shares of NASDAQ:BTDR opened at $11.83 on Monday. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.65. The company’s 50 day moving average is $7.40 and its two-hundred day moving average is $7.44. The company has a market cap of $1.32 billion, a PE ratio of -28.85 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 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The company had revenue of $119.51 million during the quarter, compared to analysts’ expectations of $119.12 million. Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. As a group, equities research analysts expect that Bitdeer Technologies Group will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Nomura Holdings Inc. acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at $15,350,000. Van ECK Associates Corp boosted its holdings in Bitdeer Technologies Group by 10.5% during the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock worth $8,537,000 after buying an additional 115,882 shares during the last quarter. Vident Advisory LLC boosted its holdings in Bitdeer Technologies Group by 186.4% during the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after buying an additional 565,362 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Bitdeer Technologies Group by 83.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after buying an additional 243,245 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Bitdeer Technologies Group during the fourth quarter worth about $1,199,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.