Bitdeer Technologies Group (NASDAQ:BTDR) Lifted to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Bitdeer Technologies Group (NASDAQ:BTDR) to a strong-buy rating in a research report report published on Wednesday, Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Rosenblatt Securities reiterated a buy rating and issued a $9.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday. Cantor Fitzgerald reissued an overweight rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Needham & Company LLC reissued a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, September 26th. Roth Mkm reissued a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Finally, Alliance Global Partners began coverage on shares of Bitdeer Technologies Group in a research report on Tuesday. They issued a buy rating and a $14.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $13.70.

Bitdeer Technologies Group Price Performance

Shares of BTDR stock opened at $7.57 on Wednesday. The stock has a market cap of $847.61 million, a P/E ratio of -39.84 and a beta of 1.92. The company has a fifty day moving average price of $7.02 and a two-hundred day moving average price of $7.55. Bitdeer Technologies Group has a one year low of $2.77 and a one year high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The firm had revenue of $99.23 million during the quarter, compared to analyst estimates of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. As a group, equities research analysts anticipate that Bitdeer Technologies Group will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

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