Roth Mkm Reiterates Buy Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reaffirmed by analysts at Roth Mkm in a report released on Monday, Benzinga reports. They presently have a $14.00 price objective on the stock. Roth Mkm’s target price would suggest a potential upside of 20.59% from the company’s previous close.

A number of other brokerages also recently commented on BTDR. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, June 11th. B. Riley began coverage on shares of Bitdeer Technologies Group in a report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday, May 15th. Rosenblatt Securities began coverage on shares of Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Monday, April 15th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $13.56.

Bitdeer Technologies Group Stock Up 9.6 %

Shares of Bitdeer Technologies Group stock opened at $11.61 on Monday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -28.32 and a beta of 1.96. The business has a 50-day moving average price of $7.19 and a 200-day moving average price of $7.37. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, May 13th. The company reported $0.01 earnings per share 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 for the quarter, compared to analysts’ expectations of $119.12 million. On average, equities analysts expect that Bitdeer Technologies Group will post -0.01 EPS for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors have recently added to or reduced their stakes in BTDR. Barclays PLC bought a new stake in shares of Bitdeer Technologies Group during the third quarter valued at approximately $49,000. Exchange Traded Concepts LLC raised its stake in shares of Bitdeer Technologies Group by 83.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after acquiring an additional 243,245 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Bitdeer Technologies Group by 149.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after acquiring an additional 23,310 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $240,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $1,199,000. 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.