Bitdeer Technologies Group (NASDAQ:BTDR) Receives $13.64 Consensus Target Price from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR) has earned a consensus rating of “Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.64.

A number of equities analysts recently weighed in on BTDR shares. B. Riley started coverage on 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. Needham & Company LLC started coverage on Bitdeer Technologies Group in a research note on Monday, April 15th. They issued a “buy” rating and a $14.00 price target on the stock. BTIG Research started coverage on Bitdeer Technologies Group in a research note on Wednesday, March 13th. They issued a “buy” rating and a $15.00 price target on the stock. Benchmark reissued a “buy” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Finally, 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.

Bitdeer Technologies Group Stock Up 1.7 %

NASDAQ:BTDR opened at $5.84 on Friday. The business’s 50-day moving average price is $6.66 and its 200 day moving average price is $6.52. The firm has a market cap of $653.88 million, a P/E ratio of -13.90 and a beta of 1.79. Bitdeer Technologies Group has a 52-week low of $2.77 and a 52-week high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.15). The company had revenue of $114.85 million during the quarter. Bitdeer Technologies Group had a negative return on equity of 7.34% and a negative net margin of 15.37%. Sell-side analysts expect that Bitdeer Technologies Group will post -0.07 EPS for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors have recently made changes to their positions in BTDR. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $49,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $150,000. Vontobel Holding Ltd. acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $240,000. Swiss National Bank acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $604,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $1,199,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.