Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down - Here's What Happened

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.68, but opened at $8.50. Bitdeer Technologies Group shares last traded at $8.44, with a volume of 389,889 shares.

Wall Street Analysts Forecast Growth

BTDR has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, September 26th. B. Riley dropped their price objective on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Roth Mkm reaffirmed a "buy" rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Rosenblatt Securities reissued a "buy" rating and set a $9.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. Finally, Northland Securities assumed coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, October 9th. They issued an "outperform" rating and a $13.00 target price for the company. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group currently has an average rating of "Buy" and an average target price of $13.70.

Bitdeer Technologies Group Trading Down 4.1 %

The company's 50-day moving average is $7.05 and its 200-day moving average is $7.61. The firm has a market cap of $931.56 million, a price-to-earnings ratio of -20.12 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.06). Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. The company had revenue of $99.23 million during the quarter, compared to the consensus estimate of $110.79 million. Equities research analysts forecast that Bitdeer Technologies Group will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Bitdeer Technologies Group during the second quarter worth about $272,000. XTX Topco Ltd acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at approximately $276,000. Virtu Financial LLC bought a new stake in shares of Bitdeer Technologies Group in the first quarter worth $431,000. Symmetry Investments LP acquired a new stake in Bitdeer Technologies Group in the second quarter valued at $432,000. Finally, Thomist Capital Management LP acquired a new stake in Bitdeer Technologies Group in the second quarter valued at $1,156,000. 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.