Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $14.00 at B. Riley

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lifted by B. Riley from $9.00 to $14.00 in a research note published on Friday, Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Bitdeer Technologies Group’s Q4 2024 earnings at $0.11 EPS and FY2025 earnings at $0.41 EPS.

Several other brokerages also recently issued reports on BTDR. HC Wainwright restated a buy rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. Rosenblatt Securities assumed coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, April 9th. They issued a buy rating and a $10.50 target price 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 note on Wednesday, May 15th. Roth Mkm reaffirmed 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 issued a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $14.19.

Bitdeer Technologies Group Trading Up 8.6 %

BTDR stock opened at $11.48 on Friday. The firm has a 50 day moving average of $8.16 and a 200-day moving average of $7.45. Bitdeer Technologies Group has a 12-month low of $2.77 and a 12-month high of $14.65. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -28.00 and a beta of 1.96.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.07). Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. The company had revenue of $119.51 million for the quarter, compared to analyst estimates of $119.12 million. Sell-side analysts forecast that Bitdeer Technologies Group will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in BTDR. Nomura Holdings Inc. acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at $15,350,000. Van ECK Associates Corp lifted its holdings in shares of Bitdeer Technologies Group by 196.2% during the 4th quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after acquiring an additional 728,804 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after acquiring an additional 565,362 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Bitdeer Technologies Group by 83.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after acquiring an additional 243,245 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at $1,199,000. 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.