Bitdeer Technologies Group (NASDAQ:BTDR) Receives $14.00 Consensus Target Price from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received an average rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $14.00.

Several research firms recently weighed in on BTDR. B. Riley lifted their price objective on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Roth Mkm reissued a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, July 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $6.66 on Friday. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.65. The stock has a market capitalization of $745.69 million, a price-to-earnings ratio of -16.24 and a beta of 1.91. The firm has a fifty day moving average of $8.31 and a two-hundred day moving average of $7.54.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.06). The company had revenue of $99.23 million during the quarter, compared to analyst estimates of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. As a group, research analysts forecast that Bitdeer Technologies Group will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $272,000. XTX Topco Ltd acquired a new position in Bitdeer Technologies Group during the second quarter worth $276,000. Virtu Financial LLC bought a new position in Bitdeer Technologies Group in the first quarter valued at $431,000. Symmetry Investments LP bought a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $432,000. Finally, Thomist Capital Management LP acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth about $1,156,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.