Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 6.9%

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) was up 6.9% on Monday . The company traded as high as $12.70 and last traded at $12.34. Approximately 1,044,672 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 1,672,837 shares. The stock had previously closed at $11.54.

Analyst Ratings Changes

A number of analysts recently weighed in on BTDR shares. Benchmark restated a “buy” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, April 15th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, May 15th. Roth Mkm restated a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Rosenblatt Securities started coverage on Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price objective for the company. Finally, B. Riley began coverage on Bitdeer Technologies Group in a report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price objective for the company. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of “Buy” and an average target price of $13.56.

Read Our Latest Stock Report on Bitdeer Technologies Group

Bitdeer Technologies Group Trading Up 2.7 %

The stock’s 50-day simple moving average is $7.75 and its 200 day simple moving average is $7.49.

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $119.12 million. Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. On average, 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in shares of Bitdeer Technologies Group by 196.2% during the 4th 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 in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Bitdeer Technologies Group by 83.7% during the 4th 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 in the last quarter. Nomura Holdings Inc. bought a new position in shares of Bitdeer Technologies Group during the 4th quarter worth about $15,350,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bitdeer Technologies Group by 149.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after acquiring an additional 23,310 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth about $1,199,000. 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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