Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up to $10.59

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped up prior to trading on Tuesday . The stock had previously closed at $10.59, but opened at $10.86. Bitdeer Technologies Group shares last traded at $11.15, with a volume of 325,406 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, May 15th. BTIG Research assumed coverage on Bitdeer Technologies Group in a research note on Wednesday, March 13th. They set a “buy” rating and a $15.00 target price for the company. Roth Mkm restated a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Monday. Benchmark restated a “buy” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Finally, HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, June 11th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $13.56.

Bitdeer Technologies Group Trading Up 1.9 %

The company has a market capitalization of $1.32 billion, a P/E ratio of -28.85 and a beta of 1.96. The stock has a 50 day moving average price of $7.30 and a 200 day moving average price of $7.41.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Monday, May 13th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. The firm had revenue of $119.51 million during the quarter, compared to the consensus estimate of $119.12 million. On average, research analysts predict that Bitdeer Technologies Group will post -0.01 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Holdings Inc. acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at $15,350,000. Van ECK Associates Corp increased its holdings in Bitdeer Technologies Group by 10.5% in the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock valued at $8,537,000 after purchasing an additional 115,882 shares during the period. Vident Advisory LLC increased its holdings in Bitdeer Technologies Group by 186.4% in the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after purchasing an additional 565,362 shares during the period. Exchange Traded Concepts LLC increased its holdings in Bitdeer Technologies Group by 83.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after purchasing an additional 243,245 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at $1,199,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.