Bitdeer Technologies Group (NASDAQ:BTDR) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Rosenblatt Securities currently has a $9.00 target price on the stock.

Several other analysts have also commented on the company. HC Wainwright dropped their target price on Bitdeer Technologies Group from $20.00 to $17.00 and set a buy rating on the stock in a report on Tuesday. Cantor Fitzgerald raised Bitdeer Technologies Group to a strong-buy rating in a report on Wednesday, June 12th. Benchmark reissued a buy rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday. Roth Mkm reissued a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Finally, Needham & Company LLC reissued a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday. Seven 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, Bitdeer Technologies Group currently has a consensus rating of Buy and an average price target of $14.00.

Bitdeer Technologies Group Stock Down 2.0 %

Bitdeer Technologies Group stock opened at $7.73 on Wednesday. The firm has a market cap of $865.50 million, a price-to-earnings ratio of -18.85 and a beta of 1.96. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.65. The business’s 50-day moving average price is $9.55 and its 200 day moving average price is $7.71.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Monday, May 13th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). The company 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%. Equities analysts expect that Bitdeer Technologies Group will post 0.07 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. purchased a new position in Bitdeer Technologies Group during the fourth quarter worth approximately $240,000. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Bitdeer Technologies Group during the second quarter worth approximately $272,000. XTX Topco Ltd purchased a new position in Bitdeer Technologies Group during the second quarter worth approximately $276,000. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $384,000 after buying an additional 23,310 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Bitdeer Technologies Group during the first quarter worth approximately $431,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.