Bitdeer Technologies Group (NASDAQ:BTDR) Sees Large Volume Increase

Bitdeer Technologies Group (NASDAQ:BTDR) shares saw strong trading volume on Wednesday . 1,942,934 shares traded hands during mid-day trading, an increase of 26% from the previous session’s volume of 1,541,544 shares.The stock last traded at $10.90 and had previously closed at $10.03.

Analysts Set New Price Targets

Several research analysts have issued reports on BTDR shares. B. Riley assumed coverage on Bitdeer Technologies Group in a report on Tuesday, March 12th. They set a “buy” rating and a $9.00 price objective on the stock. Rosenblatt Securities began coverage on Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price target on the stock. Roth Mkm started coverage on Bitdeer Technologies Group in a report on Thursday, February 29th. They set a “buy” rating and a $14.00 price objective for the company. Cantor Fitzgerald raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, June 12th. Finally, Benchmark reissued a “buy” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $13.56.

Bitdeer Technologies Group Stock Performance

The company has a 50-day moving average of $6.93 and a 200-day moving average of $7.27. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -23.85 and a beta of 1.79.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Monday, May 13th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. The company had revenue of $119.51 million during the quarter, compared to analyst estimates of $119.12 million. As a group, analysts anticipate that Bitdeer Technologies Group will post -0.01 EPS 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. Barclays PLC acquired a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $49,000. Vontobel Holding Ltd. acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at about $240,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bitdeer Technologies Group by 149.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after acquiring an additional 23,310 shares in the last quarter. Virtu Financial LLC acquired a new position in Bitdeer Technologies Group during the first quarter valued at approximately $431,000. Finally, Swiss National Bank bought a new position in Bitdeer Technologies Group in the third quarter valued at approximately $604,000. 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.