Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 7.4% – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shares shot up 7.4% during trading on Friday . The company traded as high as $7.38 and last traded at $7.38. 1,010,524 shares traded hands during trading, a decline of 49% from the average session volume of 1,978,547 shares. The stock had previously closed at $6.87.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BTDR shares. Northland Securities started coverage on Bitdeer Technologies Group in a research report on Wednesday. They issued an “outperform” rating and a $13.00 price target on the stock. Roth Mkm restated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. B. Riley dropped their price target on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Thursday, September 26th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group has an average rating of “Buy” and a consensus target price of $13.70.

Bitdeer Technologies Group Trading Up 10.2 %

The stock has a fifty day simple moving average of $7.02 and a two-hundred day simple moving average of $7.56. The company has a market cap of $847.61 million, a PE ratio of -39.84 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The business had revenue of $99.23 million during 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%. As a group, equities research analysts anticipate that Bitdeer Technologies Group will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently modified their holdings of BTDR. Nomura Holdings Inc. acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $15,350,000. Van ECK Associates Corp grew 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 worth $8,537,000 after acquiring an additional 115,882 shares during the period. Vident Advisory LLC grew 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 acquiring an additional 565,362 shares during the period. Virtu Financial LLC acquired a new stake in shares of Bitdeer Technologies Group in the 1st quarter worth approximately $431,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $272,000. Institutional investors and hedge funds 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.