Bitdeer Technologies Group (NASDAQ:BTDR) PT Lowered to $12.00 at B. Riley

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price objective lowered by equities research analysts at B. Riley from $14.00 to $12.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley's price target would indicate a potential upside of 58.52% from the stock's previous close.

A number of other analysts have also issued reports on BTDR. Benchmark reissued a "buy" rating and issued a $16.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. HC Wainwright cut 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 report on Tuesday, August 13th. Northland Capmk upgraded shares of Bitdeer Technologies Group to a "strong-buy" rating in a report on Wednesday. Rosenblatt Securities reaffirmed a "buy" rating and set a $9.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday. Finally, Alliance Global Partners began coverage on shares of Bitdeer Technologies Group in a report on Tuesday. They issued a "buy" rating and a $14.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of "Buy" and an average target price of $13.70.

Bitdeer Technologies Group Trading Up 10.2 %

Shares of NASDAQ BTDR traded up $0.70 during midday trading on Friday, reaching $7.57. 1,704,807 shares of the stock were exchanged, compared to its average volume of 1,982,072. The stock has a 50 day moving average price of $7.02 and a 200-day moving average price of $7.55. The company has a market capitalization of $847.61 million, a P/E ratio of -38.84 and a beta of 1.92. Bitdeer Technologies Group has a 52-week low of $2.77 and a 52-week high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last released its earnings results 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 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. On average, analysts forecast that Bitdeer Technologies Group will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at about $15,350,000. Vident Advisory LLC boosted its holdings in Bitdeer Technologies Group by 186.4% in the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company's stock worth $6,098,000 after acquiring an additional 565,362 shares during the period. D1 Capital Partners L.P. acquired a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $5,386,000. Marshall Wace LLP purchased a new stake in shares of Bitdeer Technologies Group during the second quarter valued at approximately $5,074,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Bitdeer Technologies Group during the second quarter worth $4,617,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.