Bitdeer Technologies Group (NASDAQ:BTDR) Given New $14.00 Price Target at B. Riley

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target increased by B. Riley from $9.00 to $14.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock. B. Riley also issued estimates for Bitdeer Technologies Group’s Q4 2024 earnings at $0.11 EPS and FY2025 earnings at $0.41 EPS.

A number of other research analysts have also weighed in on BTDR. Rosenblatt Securities initiated coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They set a buy rating and a $10.50 price objective for the company. Cantor Fitzgerald raised Bitdeer Technologies Group to a strong-buy rating in a research report on Wednesday, June 12th. HC Wainwright reissued a buy rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. Needham & Company LLC reaffirmed a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Wednesday, May 15th. Finally, Benchmark reissued a buy rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Monday, April 15th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bitdeer Technologies Group currently has an average rating of Buy and an average price target of $14.19.

Bitdeer Technologies Group Trading Up 3.9 %

Shares of BTDR stock opened at $10.57 on Friday. The company’s fifty day moving average price is $8.04 and its 200-day moving average price is $7.46. The stock has a market cap of $1.18 billion, a PE ratio of -25.78 and a beta of 1.96. Bitdeer Technologies Group has a 12 month low of $2.77 and a 12 month high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. The business had revenue of $119.51 million for the quarter, compared to the consensus estimate of $119.12 million. On average, sell-side analysts forecast that Bitdeer Technologies Group will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the company. Vontobel Holding Ltd. bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $240,000. Mirae Asset Global Investments Co. Ltd. grew its position in Bitdeer Technologies Group by 149.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after buying an additional 23,310 shares during the period. Virtu Financial LLC purchased a new stake in Bitdeer Technologies Group during the first quarter valued at approximately $431,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in Bitdeer Technologies Group in the fourth quarter worth approximately $1,199,000. Finally, Exchange Traded Concepts LLC boosted its stake 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 acquiring an additional 243,245 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

About Bitdeer Technologies Group

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.