Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Cut to $12.00 by Analysts at B. Riley

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target cut by B. Riley from $14.00 to $12.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Alliance Global Partners initiated coverage on Bitdeer Technologies Group in a report on Tuesday. They set a buy rating and a $14.00 price objective for the company. Needham & Company LLC reissued a buy rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Thursday, September 26th. Rosenblatt Securities reiterated a buy rating and set a $9.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday. Northland Securities started coverage on shares of Bitdeer Technologies Group in a research report on Wednesday. They set an outperform rating and a $13.00 target price for the company. Finally, Northland Capmk upgraded Bitdeer Technologies Group to a strong-buy rating in a research note on Wednesday. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $13.70.

Bitdeer Technologies Group Trading Up 10.2 %

NASDAQ:BTDR opened at $7.57 on Friday. Bitdeer Technologies Group has a 12 month low of $2.77 and a 12 month high of $14.27. The stock has a market capitalization of $847.61 million, a price-to-earnings ratio of -39.84 and a beta of 1.92. The firm has a fifty day simple moving average of $7.02 and a two-hundred day simple moving average of $7.55.

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

Institutional Trading of Bitdeer Technologies Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at $272,000. XTX Topco Ltd bought a new stake in Bitdeer Technologies Group during the second quarter valued at $276,000. Symmetry Investments LP purchased a new position in Bitdeer Technologies Group during the second quarter worth about $432,000. Virtu Financial LLC bought a new position in Bitdeer Technologies Group in the 1st quarter worth about $431,000. Finally, Thomist Capital Management LP purchased a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at about $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.