Bitdeer Technologies Group (NASDAQ:BTDR) Receives $13.70 Average Price Target from Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) have been given a consensus recommendation of "Buy" by the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $13.70.

Several analysts recently weighed in on the company. HC Wainwright decreased their price objective on Bitdeer Technologies Group from $20.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, August 13th. Northland Securities assumed coverage on Bitdeer Technologies Group in a report on Wednesday, October 9th. They issued an "outperform" rating and a $13.00 price objective for the company. B. Riley decreased their price objective on Bitdeer Technologies Group from $14.00 to $12.00 and set a "buy" rating for the company in a report on Friday, October 11th. Roth Mkm reiterated a "buy" rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Finally, Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a "buy" rating and a $14.00 target price for the company.

Bitdeer Technologies Group Trading Down 2.7 %

Shares of BTDR traded down $0.21 during trading hours on Friday, reaching $7.53. 1,702,446 shares of the company traded hands, compared to its average volume of 1,992,358. The firm has a market cap of $843.10 million, a price-to-earnings ratio of -18.37 and a beta of 1.92. Bitdeer Technologies Group has a 12-month low of $3.15 and a 12-month high of $14.27. The stock's fifty day moving average price is $7.12 and its 200 day moving average price is $7.63.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last released 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 firm had revenue of $99.23 million during the quarter, compared to the consensus estimate of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. On average, research analysts forecast that Bitdeer Technologies Group will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently bought and sold shares of the company. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $272,000. XTX Topco Ltd purchased a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $276,000. Virtu Financial LLC purchased a new stake in Bitdeer Technologies Group in the first quarter valued at approximately $431,000. Symmetry Investments LP purchased a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $432,000. Finally, Shariaportfolio Inc. purchased a new stake in Bitdeer Technologies Group in the third quarter valued at approximately $1,039,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Company Profile

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.