Bitdeer Technologies Group (NASDAQ:BTDR) Now Covered by Analysts at Northland Securities

Northland Securities assumed coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research report released on Wednesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $13.00 target price on the stock.

A number of other brokerages have also weighed in on BTDR. Cantor Fitzgerald reiterated an overweight rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Rosenblatt Securities reissued a buy rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. Needham & Company LLC restated a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, September 26th. Benchmark reaffirmed a buy rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Finally, B. Riley increased their price target on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the stock a buy rating in a research note on Friday, July 12th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $13.70.

Bitdeer Technologies Group Stock Up 10.2 %

Shares of NASDAQ BTDR opened at $7.57 on Wednesday. The company has a market cap of $847.61 million, a price-to-earnings ratio of -39.84 and a beta of 1.92. The firm’s fifty day moving average is $7.02 and its 200 day moving average is $7.56. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.06). The firm had revenue of $99.23 million for the quarter, compared to the consensus estimate of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. Equities research analysts anticipate that Bitdeer Technologies Group will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Bitdeer Technologies Group in the second quarter worth $272,000. XTX Topco Ltd purchased a new stake in Bitdeer Technologies Group during the 2nd quarter valued at about $276,000. Virtu Financial LLC bought a new stake in Bitdeer Technologies Group during the 1st quarter valued at about $431,000. Symmetry Investments LP bought a new position in shares of Bitdeer Technologies Group in the second quarter worth approximately $432,000. Finally, Thomist Capital Management LP bought a new position in shares of Bitdeer Technologies Group in the second quarter worth approximately $1,156,000. Institutional investors own 22.25% of the company’s stock.

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.