Bitdeer Technologies Group’s (BTDR) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a report published on Thursday morning, Benzinga reports. They currently have a $14.00 price target on the stock.

A number of other brokerages have also issued reports on BTDR. Benchmark reaffirmed a buy rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. HC Wainwright lowered their price objective on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a buy rating on the stock in a research note on Tuesday, August 13th. Cantor Fitzgerald restated an overweight rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, September 3rd. B. Riley upped their price objective on Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a buy rating in a research note on Friday, July 12th. Finally, Roth Mkm reaffirmed a buy rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, July 1st. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and an average price target of $14.00.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $8.44 on Thursday. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.27. The company has a market cap of $944.99 million, a price-to-earnings ratio of -20.59 and a beta of 1.90. The firm has a 50 day moving average price of $7.51 and a 200 day moving average price of $7.58.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.06). The company had revenue of $99.23 million for the quarter, compared to analyst estimates of $110.79 million. Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. Sell-side analysts predict that Bitdeer Technologies Group will post -0.17 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors have recently modified their holdings of the business. Nomura Holdings Inc. bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at $15,350,000. Vident Advisory LLC grew its position in shares of 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 acquiring an additional 565,362 shares during the period. D1 Capital Partners L.P. purchased a new stake in Bitdeer Technologies Group in the second quarter worth $5,386,000. Marshall Wace LLP purchased a new stake in Bitdeer Technologies Group in the 2nd quarter worth about $5,074,000. Finally, Point72 Asset Management L.P. purchased a new position in Bitdeer Technologies Group in the 2nd quarter valued at approximately $4,617,000. 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.