Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up to $9.87

Bitdeer Technologies Group (NASDAQ:BTDR) shares gapped up before the market opened on Monday . The stock had previously closed at $9.87, but opened at $10.23. Bitdeer Technologies Group shares last traded at $10.24, with a volume of 81,974 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BTDR. Rosenblatt Securities initiated coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, April 9th. They set a “buy” rating and a $10.50 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, May 15th. Roth Mkm reissued a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Cantor Fitzgerald raised Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, June 12th. Finally, B. Riley boosted their target price on Bitdeer Technologies Group from $9.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $14.56.

Bitdeer Technologies Group Stock Down 0.2 %

The business’s fifty day moving average price is $9.02 and its two-hundred day moving average price is $7.57.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, May 13th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). The company had revenue of $119.51 million for the quarter, compared to the consensus estimate 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, research analysts anticipate that Bitdeer Technologies Group will post 0.07 earnings per share for the current year.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of BTDR. Nomura Holdings Inc. bought a new position in Bitdeer Technologies Group during the fourth quarter valued at $15,350,000. Van ECK Associates Corp grew its holdings in 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 purchasing an additional 728,804 shares during the last quarter. Vident Advisory LLC grew its holdings in 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 purchasing an additional 565,362 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Bitdeer Technologies Group in the 4th quarter worth about $1,199,000. Finally, Virtu Financial LLC bought a new stake in Bitdeer Technologies Group in the first quarter worth about $431,000. Hedge funds and other institutional investors 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.