Bitdeer Technologies Group (NASDAQ:BTDR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $30.3333.

A number of brokerages have recently commented on BTDR. Rosenblatt Securities boosted their price objective on Bitdeer Technologies Group from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Needham & Company LLC boosted their price target on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Jones Trading assumed coverage on shares of Bitdeer Technologies Group in a research report on Monday, October 6th. They issued a “buy” rating and a $32.00 price objective on the stock. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Bitdeer Technologies Group in a research report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, October 8th.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bitdeer Technologies Group by 182.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,012 shares of the company’s stock valued at $274,000 after acquiring an additional 20,030 shares during the period. Blueshift Asset Management LLC purchased a new position in Bitdeer Technologies Group during the 1st quarter worth $342,000. Charles Schwab Investment Management Inc. increased its stake in Bitdeer Technologies Group by 45.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 537,082 shares of the company’s stock valued at $4,742,000 after purchasing an additional 168,304 shares during the period. Deutsche Bank AG raised its holdings in shares of Bitdeer Technologies Group by 198.3% in the first quarter. Deutsche Bank AG now owns 49,301 shares of the company’s stock valued at $435,000 after buying an additional 32,776 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Bitdeer Technologies Group by 136.8% in the first quarter. Swiss National Bank now owns 168,400 shares of the company’s stock valued at $1,487,000 after buying an additional 97,300 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Up 6.0%

Bitdeer Technologies Group stock opened at $13.43 on Friday. The firm has a market capitalization of $2.84 billion, a P/E ratio of -2.39 and a beta of 2.28. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Bitdeer Technologies Group has a twelve month low of $6.84 and a twelve month high of $27.80. The stock’s fifty day simple moving average is $18.28 and its 200-day simple moving average is $15.19.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Monday, November 10th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The company had revenue of $169.71 million for the quarter, compared to analyst estimates of $151.80 million. During the same period in the previous year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was up 173.7% compared to the same quarter last year. As a group, equities analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

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.