B. Riley Brokers Decrease Earnings Estimates for BTDR

Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) - B. Riley dropped their FY2024 EPS estimates for shares of Bitdeer Technologies Group in a report released on Wednesday, February 12th. B. Riley analyst N. Giles now expects that the company will post earnings of ($0.63) per share for the year, down from their prior forecast of ($0.62). B. Riley has a "Buy" rating and a $24.00 price objective on the stock. The consensus estimate for Bitdeer Technologies Group's current full-year earnings is ($0.73) per share.

A number of other analysts have also weighed in on BTDR. Northland Securities upped their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Needham & Company LLC upped their price target on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Rosenblatt Securities upped their price target on shares of Bitdeer Technologies Group from $22.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Roth Mkm upped their price target on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an "outperform" rating and a $26.50 price target for the company. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $22.23.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR traded down $1.47 during trading on Friday, reaching $15.03. The company had a trading volume of 5,300,272 shares, compared to its average volume of 6,654,464. The firm's fifty day moving average is $19.61 and its 200 day moving average is $12.63. The firm has a market capitalization of $1.68 billion, a PE ratio of -28.90 and a beta of 2.04. Bitdeer Technologies Group has a twelve month low of $5.23 and a twelve month high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently made changes to their positions in the company. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $65,010,000. Trivest Advisors Ltd acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $48,481,000. Van ECK Associates Corp acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $29,125,000. Renaissance Technologies LLC raised its holdings in shares of Bitdeer Technologies Group by 3,558.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock valued at $26,876,000 after acquiring an additional 1,206,361 shares during the period. Finally, Vident Advisory LLC increased its stake in Bitdeer Technologies Group by 29.7% in the 4th quarter. Vident Advisory LLC now owns 1,139,619 shares of the company's stock valued at $24,696,000 after buying an additional 260,649 shares during the period. Institutional investors and hedge funds 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.