Bitdeer Technologies Group’s (BTDR) Buy Rating Reiterated at HC Wainwright

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $20.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 174.35% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, May 15th. B. Riley assumed coverage on shares of Bitdeer Technologies Group in a report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 target price for the company. BTIG Research started coverage on shares of Bitdeer Technologies Group in a report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 target price for the company. Rosenblatt Securities started coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, April 9th. They set a “buy” rating and a $10.50 price target on the stock. Finally, Benchmark reiterated a “buy” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bitdeer Technologies Group has an average rating of “Buy” and an average price target of $13.56.

Check Out Our Latest Report on BTDR

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $7.29 on Tuesday. Bitdeer Technologies Group has a 1-year low of $2.77 and a 1-year high of $14.65. The stock has a market cap of $816.26 million, a PE ratio of -17.78 and a beta of 1.79. The firm has a fifty day moving average price of $6.18 and a 200 day moving average price of $6.92.

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) last announced its quarterly earnings results 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 net margin of 11.21% and a negative return on equity of 3.98%. The company had revenue of $119.51 million during the quarter, compared to analysts’ expectations of $119.12 million. As a group, equities analysts expect that Bitdeer Technologies Group will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently modified their holdings of BTDR. Nomura Holdings Inc. purchased a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $15,350,000. Van ECK Associates Corp raised its stake in 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 worth $10,848,000 after purchasing an additional 728,804 shares during the period. Vident Advisory LLC raised its stake in Bitdeer Technologies Group by 186.4% during the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after purchasing an additional 565,362 shares during the period. Exchange Traded Concepts LLC raised its stake 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 purchasing an additional 243,245 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Bitdeer Technologies Group during the fourth quarter worth approximately $1,199,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Bitdeer Technologies Group

(Get Free Report)

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.

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