Bitdeer Technologies Group (NASDAQ:BTDR) Receives New Coverage from Analysts at Northland Securities

Research analysts at Northland Securities started coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set an “outperform” rating and a $13.00 price target on the stock. Northland Securities’ price objective would suggest a potential upside of 83.88% from the company’s previous close.

Several other research analysts have also recently issued reports on BTDR. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a research note on Tuesday. They issued a “buy” rating and a $14.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, September 26th. Benchmark restated a “buy” rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday. Finally, Roth Mkm reissued a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, July 1st. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and a consensus target price of $13.90.

Bitdeer Technologies Group Trading Up 0.1 %

Bitdeer Technologies Group stock opened at $7.07 on Wednesday. The firm has a 50 day moving average of $7.10 and a 200 day moving average of $7.56. The firm has a market capitalization of $791.60 million, a price-to-earnings ratio of -17.24 and a beta of 1.92. Bitdeer Technologies Group has a 12-month low of $2.77 and a 12-month high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.06). The firm had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. On average, analysts predict 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 modified their holdings of the company. Nomura Holdings Inc. purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth $15,350,000. Van ECK Associates Corp boosted its holdings in shares of Bitdeer Technologies Group by 10.5% in the 1st quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock valued at $8,537,000 after buying an additional 115,882 shares during the period. Vident Advisory LLC lifted its holdings in shares of Bitdeer Technologies Group by 186.4% in the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after purchasing an additional 565,362 shares during the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of Bitdeer Technologies Group in the second quarter valued at approximately $5,386,000. Finally, Marshall Wace LLP bought a new stake in Bitdeer Technologies Group during the second quarter worth approximately $5,074,000. Hedge funds and other 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.