Bitdeer Technologies Group (NASDAQ:BTDR) Coverage Initiated by Analysts at Northland Securities

Northland Securities initiated coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a report released on Wednesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $13.00 price objective on the stock.

Other equities analysts have also issued research reports about the stock. Roth Mkm reiterated a buy rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Alliance Global Partners initiated coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a buy rating and a $14.00 price objective for the company. HC Wainwright dropped their target price on Bitdeer Technologies Group from $20.00 to $17.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. Cantor Fitzgerald reiterated an overweight rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Finally, Benchmark reissued a buy rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $13.70.

Bitdeer Technologies Group Stock Up 10.2 %

Bitdeer Technologies Group stock opened at $7.57 on Wednesday. The firm has a 50 day moving average price of $7.02 and a 200-day moving average price of $7.56. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.27. The company has a market capitalization of $847.61 million, a P/E ratio of -39.84 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. The firm had revenue of $99.23 million during the quarter, compared to analysts’ expectations of $110.79 million. Equities analysts expect that Bitdeer Technologies Group will post -0.31 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new position in Bitdeer Technologies Group in the fourth quarter valued at $15,350,000. Vident Advisory LLC increased 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 purchasing an additional 565,362 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at about $5,386,000. Marshall Wace LLP bought a new stake in Bitdeer Technologies Group in the 2nd quarter worth approximately $5,074,000. Finally, Point72 Asset Management L.P. purchased a new stake in Bitdeer Technologies Group in the second quarter worth approximately $4,617,000. Hedge funds and other 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.