Bitdeer Technologies Group’s (BTDR) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $25.00 target price on the stock.

Several other brokerages have also recently commented on BTDR. HC Wainwright lowered their target price on shares of Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Needham & Company LLC increased their price target on Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, October 8th. Rosenblatt Securities increased their target price on Bitdeer Technologies Group from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, B. Riley decreased their price target on Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.33.

Bitdeer Technologies Group Stock Up 6.0%

BTDR opened at $13.43 on Wednesday. The stock has a fifty day moving average of $18.28 and a 200-day moving average of $15.18. The company has a market capitalization of $2.84 billion, a P/E ratio of -2.39 and a beta of 2.28. Bitdeer Technologies Group has a fifty-two week low of $6.84 and a fifty-two week high of $27.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.90.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Monday, November 10th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. The business had revenue of $169.71 million during the quarter, compared to analyst estimates of $151.80 million. During the same quarter last year, the company posted ($0.35) earnings per share. The company’s revenue was up 173.7% on a year-over-year basis. On average, equities analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

Large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its stake in Bitdeer Technologies Group by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after acquiring an additional 1,044 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Bitdeer Technologies Group during the 1st quarter worth approximately $55,000. Tower Research Capital LLC TRC lifted its stake in Bitdeer Technologies Group by 7,157.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Bitdeer Technologies Group in the 2nd quarter valued at approximately $105,000. 22.25% of the stock is 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.