Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down to $9.95

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped down prior to trading on Monday . The stock had previously closed at $9.95, but opened at $9.61. Bitdeer Technologies Group shares last traded at $9.33, with a volume of 208,088 shares traded.

Analyst Ratings Changes

BTDR has been the subject of several analyst reports. Cantor Fitzgerald upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, June 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Wednesday, May 15th. Rosenblatt Securities began coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, April 15th. Finally, B. Riley began coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a “buy” rating and a $9.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bitdeer Technologies Group has a consensus rating of “Buy” and a consensus target price of $13.56.

Bitdeer Technologies Group Price Performance

The firm’s fifty day moving average price is $6.42 and its two-hundred day moving average price is $7.11. The stock has a market cap of $1.02 billion, a P/E ratio of -22.15 and a beta of 1.79.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). The company had revenue of $119.51 million during the quarter, compared to the consensus estimate of $119.12 million. Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. On average, research analysts expect that Bitdeer Technologies Group will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently made changes to their positions in BTDR. Van ECK Associates Corp lifted its holdings in shares of Bitdeer Technologies Group by 196.2% during the 4th quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock worth $10,848,000 after acquiring an additional 728,804 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Bitdeer Technologies Group by 83.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after purchasing an additional 243,245 shares during the last quarter. Swiss National Bank bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $604,000. Nomura Holdings Inc. bought a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at about $15,350,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bitdeer Technologies Group by 149.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after buying an additional 23,310 shares in the last quarter. 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.