Bitdeer Technologies Group (NASDAQ:BTDR) PT Lowered to $17.00 at HC Wainwright

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective lowered by HC Wainwright from $20.00 to $17.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Bitdeer Technologies Group’s Q3 2024 earnings at ($0.20) EPS, Q4 2024 earnings at ($0.16) EPS and FY2024 earnings at ($0.49) EPS.

Several other research analysts have also commented on BTDR. Roth Mkm reaffirmed a buy rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Benchmark upped their price target on shares of Bitdeer Technologies Group from $13.00 to $16.00 and gave the company a buy rating in a research report on Monday, July 22nd. B. Riley raised their price objective on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the stock a buy rating in a research report on Friday, July 12th. Needham & Company LLC restated a buy rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, May 15th. Finally, Cantor Fitzgerald raised Bitdeer Technologies Group to a strong-buy rating in a report on Wednesday, June 12th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of Buy and an average target price of $14.00.

Bitdeer Technologies Group Trading Down 18.1 %

BTDR stock opened at $6.33 on Tuesday. The stock has a market cap of $708.74 million, a P/E ratio of -15.44 and a beta of 1.96. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.65. The company’s 50 day moving average is $9.53 and its two-hundred day moving average is $7.70.

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

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors have recently added to or reduced their stakes in BTDR. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Bitdeer Technologies Group by 149.5% during the 4th 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 during the period. Vontobel Holding Ltd. acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at $240,000. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Bitdeer Technologies Group in the second quarter valued at $272,000. XTX Topco Ltd purchased a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth about $276,000. Finally, Symmetry Investments LP purchased a new stake in shares of Bitdeer Technologies Group in the second quarter valued at about $432,000. Hedge funds and other institutional investors 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.