Bitdeer Technologies Group (NASDAQ:BTDR) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research report report published on Wednesday morning, MarketBeat reports. Rosenblatt Securities currently has a $9.00 price objective on the stock.

Several other research analysts have also commented on the company. HC Wainwright cut their price objective on Bitdeer Technologies Group from $20.00 to $17.00 and set a buy rating on the stock in a research report on Tuesday. B. Riley raised their price objective on Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a buy rating in a research report on Friday, July 12th. Needham & Company LLC reissued a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday. Roth Mkm restated a buy rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, July 1st. Finally, Cantor Fitzgerald upgraded Bitdeer Technologies Group to a strong-buy rating in a research note on Wednesday, June 12th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $14.00.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR opened at $7.73 on Wednesday. The business’s 50-day moving average is $9.55 and its two-hundred day moving average is $7.71. Bitdeer Technologies Group has a 12 month low of $2.77 and a 12 month high of $14.65. The firm has a market capitalization of $865.50 million, a PE ratio of -18.85 and a beta of 1.96.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Monday, May 13th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. The company had revenue of $119.51 million during the quarter, compared to analysts’ expectations of $119.12 million. Equities analysts anticipate that Bitdeer Technologies Group will post 0.07 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently bought and sold shares of BTDR. Vontobel Holding Ltd. acquired a new position in Bitdeer Technologies Group in the fourth quarter worth about $240,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Bitdeer Technologies Group in the second quarter worth about $272,000. XTX Topco Ltd acquired a new position in Bitdeer Technologies Group in the second quarter worth about $276,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Bitdeer Technologies Group by 149.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after purchasing an additional 23,310 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Bitdeer Technologies Group in the first quarter worth about $431,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.