Bitdeer Technologies Group (NASDAQ:BTDR) Given Consensus Rating of “Buy” by Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received an average recommendation of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $13.56.

BTDR has been the subject of several research analyst reports. B. Riley initiated coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price target on the stock. Rosenblatt Securities started coverage on Bitdeer Technologies Group in a research note on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, June 11th. Cantor Fitzgerald upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, June 12th. Finally, Benchmark restated a “buy” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, April 15th.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently made changes to their positions in BTDR. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group during the third quarter worth $49,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bitdeer Technologies Group by 149.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after acquiring an additional 23,310 shares during the period. Vontobel Holding Ltd. acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at about $240,000. Virtu Financial LLC purchased a new stake in Bitdeer Technologies Group during the first quarter worth about $431,000. Finally, Swiss National Bank acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth about $604,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Up 4.9 %

Shares of BTDR opened at $10.26 on Friday. The firm has a market cap of $1.15 billion, a P/E ratio of -25.02 and a beta of 1.79. Bitdeer Technologies Group has a 12 month low of $2.77 and a 12 month high of $14.65. The stock’s 50 day moving average is $7.01 and its two-hundred day moving average is $7.31.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Monday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The company had revenue of $119.51 million during the quarter, compared to analyst estimates of $119.12 million. Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. Equities research analysts forecast that Bitdeer Technologies Group will post -0.01 EPS for the current year.

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.