Bitdeer Technologies Group (NASDAQ:BTDR) Given Buy Rating at Rosenblatt Securities

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $9.00 price objective on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 28.57% from the stock’s current price.

BTDR has been the topic of several other reports. HC Wainwright cut 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 report on Tuesday, August 13th. Benchmark reaffirmed a “buy” rating and issued a $16.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Roth Mkm reaffirmed a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, September 26th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $14.00.

Bitdeer Technologies Group Trading Down 0.8 %

NASDAQ:BTDR opened at $7.00 on Tuesday. The firm has a fifty day simple moving average of $7.14 and a two-hundred day simple moving average of $7.56. 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 $783.76 million, a price-to-earnings ratio of -17.07 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted 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 during 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 analysts predict 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 hedge funds have recently made changes to their positions in BTDR. Nomura Holdings Inc. purchased a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $15,350,000. Van ECK Associates Corp increased its holdings in shares of Bitdeer Technologies Group by 10.5% in the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock worth $8,537,000 after purchasing an additional 115,882 shares during the period. Vident Advisory LLC raised its position in shares of Bitdeer Technologies Group by 186.4% in the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after buying an additional 565,362 shares in the last quarter. Virtu Financial LLC bought a new stake 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 worth about $272,000. 22.25% of the stock is currently owned by hedge funds and other 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.