Roth Mkm Reiterates Buy Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reaffirmed by research analysts at Roth Mkm in a research note issued on Monday, Benzinga reports. They currently have a $14.00 price objective on the stock. Roth Mkm’s price target would suggest a potential upside of 20.59% from the stock’s current price.

A number of other research firms have also issued reports on BTDR. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, May 15th. BTIG Research assumed coverage on shares of Bitdeer Technologies Group in a report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 price objective on the stock. Benchmark reiterated a “buy” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Rosenblatt Securities began coverage on Bitdeer Technologies Group in a research note on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, June 11th. Seven equities 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 MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $13.56.

Bitdeer Technologies Group Stock Up 9.6 %

Bitdeer Technologies Group stock opened at $11.61 on Monday. The firm has a market cap of $1.30 billion, a PE ratio of -28.32 and a beta of 1.96. Bitdeer Technologies Group has a 52-week low of $2.77 and a 52-week high of $14.65. The company’s 50 day moving average is $7.19 and its two-hundred day moving average is $7.37.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Monday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The business had revenue of $119.51 million for 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%. On average, equities research analysts anticipate that Bitdeer Technologies Group will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at $49,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 valued at $384,000 after buying an additional 23,310 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $240,000. Virtu Financial LLC acquired a new position in shares of Bitdeer Technologies Group in the 1st quarter valued at $431,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Bitdeer Technologies Group by 10.5% in the 1st quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock valued at $8,537,000 after buying an additional 115,882 shares in the last quarter. Institutional investors and hedge funds 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.