HC Wainwright Lowers Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $17.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lowered by stock analysts at HC Wainwright from $20.00 to $17.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 119.92% from the company’s previous close.

A number of other research firms also recently commented on BTDR. 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. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, May 15th. Roth Mkm restated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Cantor Fitzgerald upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, June 12th. Finally, Benchmark boosted their target price on shares of Bitdeer Technologies Group from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Buy” and an average target price of $14.00.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $7.73 on Tuesday. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.65. The company has a 50 day simple moving average of $9.55 and a two-hundred day simple moving average of $7.71. The firm has a market cap of $865.50 million, a P/E ratio of -18.85 and a beta of 1.96.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly 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). 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 the consensus estimate of $119.12 million. On average, sell-side analysts anticipate that Bitdeer Technologies Group will post 0.07 earnings per share for the current year.

Institutional Trading of Bitdeer Technologies Group

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 buying an additional 23,310 shares during the period. Vontobel Holding Ltd. purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth $240,000. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Bitdeer Technologies Group during the second quarter worth $272,000. XTX Topco Ltd purchased a new stake in shares of Bitdeer Technologies Group during the second quarter valued at $276,000. Finally, Symmetry Investments LP bought a new position in shares of Bitdeer Technologies Group in the second quarter worth about $432,000. 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.