Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 3.2%

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) shot up 3.2% during mid-day trading on Tuesday . The company traded as high as $6.54 and last traded at $6.54. 94,265 shares traded hands during trading, a decline of 93% from the average session volume of 1,429,049 shares. The stock had previously closed at $6.34.

Analysts Set New Price Targets

Several brokerages recently weighed in on BTDR. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, May 13th. Benchmark reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday, May 15th. Roth Mkm started coverage on shares of Bitdeer Technologies Group in a research report on Thursday, February 29th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, B. Riley started coverage on Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a “buy” rating and a $9.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Buy” and a consensus target price of $13.64.

Check Out Our Latest Research Report on Bitdeer Technologies Group

Bitdeer Technologies Group Stock Performance

The stock has a market cap of $784.91 million, a price-to-earnings ratio of -17.10 and a beta of 1.79. The business’s 50 day moving average is $6.17 and its 200 day moving average is $6.84.

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) last issued its earnings results on Monday, May 13th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). The business had revenue of $119.51 million during 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%. Research analysts expect that Bitdeer Technologies Group will post -0.01 earnings per share for the current year.

Institutional Trading of Bitdeer Technologies Group

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC acquired a new position in Bitdeer Technologies Group during the third quarter valued at approximately $49,000. Vontobel Holding Ltd. acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at $240,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 acquiring an additional 23,310 shares during the period. Virtu Financial LLC acquired a new position in Bitdeer Technologies Group during the 1st quarter worth $431,000. Finally, Swiss National Bank bought a new stake in Bitdeer Technologies Group during the third quarter valued at about $604,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

About Bitdeer Technologies Group

(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.

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