Bitdeer Technologies Group’s (BTDR) “Overweight” Rating Reiterated at Cantor Fitzgerald

by · The Markets Daily

Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Thursday, Benzinga reports. They presently have a $13.00 target price on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 78.08% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, August 14th. B. Riley boosted their price objective on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Benchmark reaffirmed a “buy” rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. HC Wainwright cut their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Roth Mkm reissued a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, July 1st. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $14.00.

Check Out Our Latest Research Report on Bitdeer Technologies Group

Bitdeer Technologies Group Stock Up 5.1 %

NASDAQ BTDR opened at $7.30 on Thursday. The company’s 50 day moving average is $7.19 and its 200-day moving average is $7.57. Bitdeer Technologies Group has a 12-month low of $2.77 and a 12-month high of $14.27. The firm has a market cap of $817.35 million, a P/E ratio of -17.80 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS 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%. Equities analysts expect that Bitdeer Technologies Group will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nomura Holdings Inc. bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $15,350,000. 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 acquiring an additional 565,362 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $5,386,000. Marshall Wace LLP bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $5,074,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $4,617,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Bitdeer Technologies Group

(Get Free Report)

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.

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