Needham & Company LLC Reaffirms “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Needham & Company LLC reissued their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research report released on Thursday, Benzinga reports. The firm currently has a $14.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, September 3rd. Benchmark reissued a buy rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. HC Wainwright decreased their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a buy rating for the company in a research report on Tuesday, August 13th. Rosenblatt Securities reissued a buy rating and issued a $9.00 price objective on shares of Bitdeer Technologies Group in a research report on Wednesday, August 14th. Finally, B. Riley boosted their target price on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the stock a buy rating in a research report on Friday, July 12th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $14.00.

Bitdeer Technologies Group Trading Up 5.5 %

BTDR opened at $8.44 on Thursday. The company has a market capitalization of $944.99 million, a PE ratio of -20.59 and a beta of 1.90. The firm’s 50 day simple moving average is $7.51 and its two-hundred day simple moving average is $7.58. Bitdeer Technologies Group has a 1-year low of $2.77 and a 1-year high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The company had revenue of $99.23 million for 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%. Equities analysts forecast that Bitdeer Technologies Group will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently bought and sold shares of the stock. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Bitdeer Technologies Group during the second quarter worth about $272,000. XTX Topco Ltd acquired a new position in Bitdeer Technologies Group during the second quarter worth approximately $276,000. Virtu Financial LLC purchased a new stake in Bitdeer Technologies Group in the first quarter valued at approximately $431,000. Symmetry Investments LP acquired a new stake in shares of Bitdeer Technologies Group in the second quarter valued at approximately $432,000. Finally, Thomist Capital Management LP acquired a new stake in shares of Bitdeer Technologies Group in the second quarter valued at approximately $1,156,000. 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.