B. Riley Boosts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $14.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price upped by B. Riley from $9.00 to $14.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price target points to a potential upside of 37.52% from the company’s previous close.

A number of other brokerages have also weighed in on BTDR. Cantor Fitzgerald raised Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, June 12th. Benchmark reaffirmed a “buy” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, May 15th. Rosenblatt Securities initiated coverage on Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 target price on the stock. Finally, Roth Mkm reissued a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $14.19.

Bitdeer Technologies Group Trading Up 0.1 %

Shares of Bitdeer Technologies Group stock traded up $0.01 during trading hours on Friday, hitting $10.18. 410,056 shares of the company were exchanged, compared to its average volume of 1,725,769. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.65. The business has a 50-day moving average of $7.95 and a 200-day moving average of $7.53. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -24.83 and a beta of 1.96.

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

Institutional Trading of Bitdeer Technologies Group

Large investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of Bitdeer Technologies Group by 196.2% during the fourth quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after acquiring an additional 728,804 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Bitdeer Technologies Group by 83.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after buying an additional 243,245 shares during the period. Nomura Holdings Inc. purchased a new position in Bitdeer Technologies Group during the fourth quarter worth about $15,350,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Bitdeer Technologies Group by 149.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after buying an additional 23,310 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Bitdeer Technologies Group during the fourth quarter worth about $1,199,000. Institutional investors and hedge funds 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.