Bitdeer Technologies Group (NASDAQ:BTDR) Stock Has Consensus Target Price of $21.80 According to Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.80.

Several research analysts have recently weighed in on BTDR shares. Cantor Fitzgerald raised shares of Bitdeer Technologies Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $15.00 to $18.00 in a report on Wednesday, August 5th. Benchmark reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Tuesday, August 11th. Needham & Company LLC dropped their price objective on Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods reduced their target price on Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, August 13th. Finally, Rosenblatt Securities restated a “buy” rating and set a $25.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, September 15th.

Insider Activity

In other Bitdeer Technologies Group news, insider Haris Basit purchased 25,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the transaction, the insider owned 35,000 shares in the company, valued at $309,400. The trade was a 250.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Potter purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $9.04 per share, with a total value of $226,000.00. Following the transaction, the chief financial officer owned 25,000 shares in the company, valued at approximately $226,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of BTDR. SBI Securities Co. Ltd. lifted its position in Bitdeer Technologies Group by 80.7% during the third quarter. SBI Securities Co. Ltd. now owns 4,621 shares of the company’s stock valued at $48,000 after purchasing an additional 2,064 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Bitdeer Technologies Group by 89.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 21,677 shares of the company’s stock worth $227,000 after buying an additional 10,238 shares in the last quarter. Activest Wealth Management increased its holdings in shares of Bitdeer Technologies Group by 150.0% in the 3rd quarter. Activest Wealth Management now owns 5,000 shares of the company’s stock worth $52,000 after buying an additional 3,000 shares during the last quarter. Q Fund Management Hong Kong Ltd bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth $3,321,000. Finally, GAMMA Investing LLC raised its position in shares of Bitdeer Technologies Group by 58.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,928 shares of the company’s stock valued at $41,000 after buying an additional 1,452 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $6.96 on Wednesday. The firm’s 50 day simple moving average is $10.55 and its 200 day simple moving average is $12.51. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $1.58 billion, a PE ratio of -2.27 and a beta of 2.56. Bitdeer Technologies Group has a 1-year low of $6.78 and a 1-year high of $25.28.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. The firm had revenue of $228.78 million during the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. As a group, analysts expect that Bitdeer Technologies Group will post -1.68 earnings per share for the current fiscal year.

About Bitdeer Technologies Group

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. The company operates a vertically integrated platform that includes cryptocurrency mining, miner hosting, and hash rate sharing services, allowing customers to participate in digital asset mining without managing all of the underlying hardware and facilities.

Bitdeer conducts self-mining operations and provides data center services for mining equipment. It also develops and manufactures application-specific integrated circuit (ASIC) mining machines through its SEALMINER product line, with the goal of improving mining performance and energy efficiency.