Bitdeer Technologies Group (NASDAQ:BTDR) Given Average Rating of “Buy” by Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has received a consensus rating of “Buy” from the seven brokerages that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $13.64.

Several research firms recently commented on BTDR. B. Riley initiated coverage on Bitdeer Technologies Group in a research note on Tuesday, March 12th. They issued a “buy” rating and a $9.00 target price for the company. Benchmark reiterated a “buy” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, April 15th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, March 26th. Needham & Company LLC began coverage on shares of Bitdeer Technologies Group in a research report on Monday, April 15th. They set a “buy” rating and a $14.00 price target for the company. Finally, Rosenblatt Securities began coverage on shares of Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price target on the stock.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR opened at $5.74 on Friday. The company has a 50-day simple moving average of $6.72 and a 200-day simple moving average of $6.45. The company has a market cap of $642.71 million, a PE ratio of -13.67 and a beta of 1.79. Bitdeer Technologies Group has a 12 month low of $2.77 and a 12 month high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.15). The firm had revenue of $114.85 million for the quarter. Bitdeer Technologies Group had a negative return on equity of 7.34% and a negative net margin of 15.37%. On average, analysts anticipate that Bitdeer Technologies Group will post -0.07 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

Institutional investors have recently modified their holdings of the company. Barclays PLC purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth about $49,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth about $150,000. Vontobel Holding Ltd. purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $240,000. Swiss National Bank purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth about $604,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $1,199,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.