Bitdeer Technologies Group (NASDAQ:BTDR) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note published on Tuesday, Benzinga reports. The firm currently has a $13.00 price target on the stock.

A number of other brokerages also recently issued reports on BTDR. Needham & Company LLC reissued a buy rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Roth Mkm reissued a buy rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Benchmark reaffirmed a buy rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Rosenblatt Securities reaffirmed a buy rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research report on Wednesday, August 14th. Finally, B. Riley increased their target price on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the stock a buy rating in a report on Friday, July 12th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of Buy and a consensus target price of $14.00.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR opened at $5.45 on Tuesday. The stock’s 50-day simple moving average is $8.72 and its two-hundred day simple moving average is $7.56. The stock has a market capitalization of $610.21 million, a price-to-earnings ratio of -13.29 and a beta of 1.90. Bitdeer Technologies Group has a 52-week low of $2.77 and a 52-week high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.06). The business had revenue of $99.23 million during the quarter, compared to the consensus estimate of $110.79 million. Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. As a group, equities analysts forecast that Bitdeer Technologies Group will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. bought a new position in Bitdeer Technologies Group during the fourth quarter valued at $15,350,000. Van ECK Associates Corp increased its stake in Bitdeer Technologies Group by 10.5% in the 1st quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock worth $8,537,000 after buying an additional 115,882 shares during the period. Vident Advisory LLC lifted its holdings in Bitdeer Technologies Group by 186.4% during the 1st 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. D1 Capital Partners L.P. purchased a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $5,386,000. Finally, Marshall Wace LLP bought a new position in Bitdeer Technologies Group in the 2nd quarter worth about $5,074,000. 22.25% of the stock is currently owned by 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.