Bitdeer Technologies Group (NASDAQ:BTDR) Given New $16.00 Price Target at Benchmark

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective increased by Benchmark from $13.00 to $16.00 in a research note published on Monday, Benzinga reports. Benchmark currently has a buy rating on the stock.

Other analysts have also issued reports about the company. HC Wainwright restated a buy rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, June 11th. Cantor Fitzgerald raised Bitdeer Technologies Group to a strong-buy rating in a research report on Wednesday, June 12th. B. Riley upped their price target on Bitdeer Technologies Group from $9.00 to $14.00 and gave the stock a buy rating in a research report on Friday, July 12th. Needham & Company LLC reiterated a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, May 15th. Finally, Roth Mkm restated a buy rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and an average price target of $14.56.

Bitdeer Technologies Group Trading Down 2.3 %

Shares of Bitdeer Technologies Group stock opened at $9.65 on Monday. The company has a market capitalization of $1.08 billion, a PE ratio of -23.54 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. The stock’s fifty day simple moving average is $8.94 and its 200 day simple moving average is $7.57.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued 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). The business had revenue of $119.51 million for the quarter, compared to analyst estimates of $119.12 million. Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. Analysts predict that Bitdeer Technologies Group will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of large investors have recently modified their holdings of the business. Vontobel Holding Ltd. bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $240,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bitdeer Technologies Group by 149.5% during 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 in the last quarter. Virtu Financial LLC acquired a new stake in shares of Bitdeer Technologies Group during the 1st quarter worth approximately $431,000. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $1,199,000. Finally, Vident Advisory LLC boosted its position in Bitdeer Technologies Group by 186.4% in the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after buying an additional 565,362 shares in the last quarter. 22.25% of the stock is currently 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.