Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up to $9.87

Bitdeer Technologies Group (NASDAQ:BTDR) shares gapped up prior to trading on Monday . The stock had previously closed at $9.87, but opened at $10.23. Bitdeer Technologies Group shares last traded at $10.24, with a volume of 81,974 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on BTDR shares. Roth Mkm restated a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, May 15th. Benchmark upped their price target on shares of Bitdeer Technologies Group from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Cantor Fitzgerald upgraded Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, June 12th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.56.

Bitdeer Technologies Group Stock Performance

The business’s 50-day moving average is $9.02 and its two-hundred day moving average is $7.57.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Monday, May 13th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The business had revenue of $119.51 million during the quarter, compared to analysts’ expectations 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 anticipate 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 institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth $15,350,000. Van ECK Associates Corp grew its holdings in shares of Bitdeer Technologies Group by 10.5% in the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock valued at $8,537,000 after purchasing an additional 115,882 shares during the period. Vident Advisory LLC increased its position in 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 during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Bitdeer Technologies Group during the fourth quarter worth about $1,199,000. Finally, Virtu Financial LLC purchased a new stake in shares of Bitdeer Technologies Group during the 1st quarter valued at approximately $431,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.