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 research analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 174.35% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald initiated coverage on shares of Bitdeer Technologies Group in a research note on Tuesday. They set an “overweight” rating and a $13.00 price target for the company. Benchmark reaffirmed a “buy” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Rosenblatt Securities initiated 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 for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, May 15th. Finally, Roth Mkm assumed coverage on shares of Bitdeer Technologies Group in a research note on Thursday, February 29th. They issued a “buy” rating and a $14.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Bitdeer Technologies Group presently has an average rating of “Buy” and an average price target of $13.56.

Check Out Our Latest Analysis on Bitdeer Technologies Group

Bitdeer Technologies Group Price Performance

Shares of NASDAQ: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 business has a 50 day simple moving average of $6.18 and a two-hundred day simple moving average of $6.92. The firm has a market capitalization of $816.26 million, a PE ratio of -17.78 and a beta of 1.79.

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) last announced its earnings results on Monday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $119.12 million. Equities research analysts expect that Bitdeer Technologies Group will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Bitdeer Technologies Group during the first quarter worth $431,000. Vident Advisory LLC increased its position in shares of 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 in the last quarter. Van ECK Associates Corp increased its position in shares of Bitdeer Technologies Group by 10.5% during the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock worth $8,537,000 after purchasing an additional 115,882 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter worth $15,350,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter worth $1,199,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Company Profile

(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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