Cantor Fitzgerald Reiterates Overweight Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

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

Other research analysts have also recently issued reports about the stock. B. Riley upped their price objective 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. Roth Mkm reiterated a buy rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. HC Wainwright reduced their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. Needham & Company LLC reiterated a buy rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Thursday, September 26th. Finally, Benchmark reiterated a buy rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $14.00.

Bitdeer Technologies Group Stock Up 5.0 %

Shares of BTDR opened at $7.30 on Thursday. The business’s 50-day moving average price is $7.19 and its 200-day moving average price is $7.57. The stock has a market cap of $817.35 million, a PE ratio of -17.80 and a beta of 1.92. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted 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 company 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%. Analysts expect that Bitdeer Technologies Group will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors have recently made changes to their positions in BTDR. Nomura Holdings Inc. purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth $15,350,000. Van ECK Associates Corp lifted its position in Bitdeer Technologies Group by 10.5% during the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock valued at $8,537,000 after buying an additional 115,882 shares during the period. Vident Advisory LLC lifted 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 valued at $6,098,000 after buying an additional 565,362 shares during the period. Virtu Financial LLC purchased a new position in Bitdeer Technologies Group during the first quarter valued at $431,000. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new position in Bitdeer Technologies Group during the second quarter valued at $272,000. Hedge funds and other institutional investors 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.