Bitdeer Technologies Group (NASDAQ:BTDR) Trading 3.8% Higher

Bitdeer Technologies Group (NASDAQ:BTDR) was up 3.8% on Friday . The stock traded as high as $7.08 and last traded at $7.06. Approximately 515,308 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,977,063 shares. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BTDR. Rosenblatt Securities reissued a “buy” rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, August 14th. Benchmark reaffirmed a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. HC Wainwright dropped their price objective on Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Roth Mkm reissued a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.00.

Bitdeer Technologies Group Price Performance

The firm has a market cap of $784.88 million, a PE ratio of -16.59 and a beta of 1.90. The business’s fifty day moving average is $7.95 and its 200-day moving average is $7.54.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.06). The firm had revenue of $99.23 million during the quarter, compared to analysts’ expectations of $110.79 million. Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. Analysts forecast that Bitdeer Technologies Group will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of BTDR. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at about $272,000. XTX Topco Ltd purchased a new position in shares of Bitdeer Technologies Group in the second quarter worth $276,000. Virtu Financial LLC purchased a new position in shares of Bitdeer Technologies Group during the first quarter valued at approximately $431,000. Symmetry Investments LP purchased a new position in Bitdeer Technologies Group in the second quarter worth about $432,000. Finally, Thomist Capital Management LP bought a new position in Bitdeer Technologies Group in the second quarter worth approximately $1,156,000. 22.25% of the stock is currently owned by institutional investors.

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.