B. Riley Has Optimistic Outlook of BTDR FY2024 Earnings

Bitdeer Technologies Group (NASDAQ:BTDR) – B. Riley lifted their FY2024 earnings estimates for Bitdeer Technologies Group in a research report issued to clients and investors on Wednesday, December 18th. B. Riley analyst L. Pipes now expects that the company will earn ($0.62) per share for the year, up from their previous forecast of ($0.68). B. Riley has a “Buy” rating and a $24.00 price target on the stock. The consensus estimate for Bitdeer Technologies Group’s current full-year earnings is ($0.75) per share. B. Riley also issued estimates for Bitdeer Technologies Group’s Q4 2024 earnings at ($0.14) EPS, FY2025 earnings at $0.58 EPS and FY2026 earnings at $1.01 EPS.

A number of other research analysts have also issued reports on BTDR. Roth Mkm boosted their price objective on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Benchmark increased their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Rosenblatt Securities lifted their price objective on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Northland Securities upped their target price on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and a consensus price target of $19.80.

Bitdeer Technologies Group Trading Up 13.0 %

NASDAQ:BTDR opened at $20.49 on Monday. The stock has a 50 day moving average of $12.53 and a 200-day moving average of $9.78. The firm has a market capitalization of $2.29 billion, a PE ratio of -39.40 and a beta of 2.27. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $25.51.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Bitdeer Technologies Group by 281.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after purchasing an additional 182,110 shares during the period. Millennium Management LLC grew its holdings in Bitdeer Technologies Group by 901.0% during the second quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after acquiring an additional 369,363 shares during the period. Mirabella Financial Services LLP bought a new stake in Bitdeer Technologies Group in the third quarter worth about $5,872,000. Quadrature Capital Ltd bought a new stake in Bitdeer Technologies Group in the third quarter worth about $285,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $4,510,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

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.