Bitdeer Technologies Group (NASDAQ:BTDR) Stock Has Consensus Target Price of $24.00 According to Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.00.

Several analysts have commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Bitdeer Technologies Group in a report on Thursday, August 13th. Rosenblatt Securities reiterated a “buy” rating and set a $25.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, September 15th. B. Riley Financial decreased their target price on shares of Bitdeer Technologies Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Zacks Research upgraded shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Tuesday, August 11th.

Insider Buying and Selling at Bitdeer Technologies Group

In other news, insider Haris Basit acquired 25,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $8.84 per share, for a total transaction of $221,000.00. Following the acquisition, the insider directly owned 35,000 shares in the company, valued at approximately $309,400. This represents a 250.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Potter bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $9.04 per share, for a total transaction of $226,000.00. Following the completion of the transaction, the chief financial officer directly owned 25,000 shares in the company, valued at approximately $226,000. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Bitdeer Technologies Group by 57.3% in the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after acquiring an additional 902 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Bitdeer Technologies Group by 17.4% in the 4th quarter. ProShare Advisors LLC now owns 18,023 shares of the company’s stock valued at $202,000 after acquiring an additional 2,670 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Bitdeer Technologies Group by 9.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 33,940 shares of the company’s stock valued at $294,000 after acquiring an additional 2,950 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at $66,000. Finally, Royal Bank of Canada boosted its position in Bitdeer Technologies Group by 80.2% during the 1st quarter. Royal Bank of Canada now owns 9,548 shares of the company’s stock worth $83,000 after purchasing an additional 4,250 shares during the period. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Trading Down 4.2%

Shares of BTDR opened at $11.03 on Friday. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The company has a market capitalization of $2.51 billion, a PE ratio of -3.60 and a beta of 2.51. The stock has a fifty day moving average of $11.05 and a two-hundred day moving average of $12.44. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.01 and a current ratio of 1.01.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. The business had revenue of $228.78 million for the quarter. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%. As a group, analysts forecast that Bitdeer Technologies Group will post -1.72 EPS for the current year.

About Bitdeer Technologies Group

Bitdeer Technologies Group (NASDAQ: BTDR) is a technology company focused on blockchain and high-performance computing infrastructure. Its primary business is cryptocurrency mining, including self-mining, hash rate sharing and mining machine hosting services. The company provides customers with access to mining capacity, data-center infrastructure and related operational support.

Bitdeer also designs and develops application-specific integrated circuit (ASIC) mining machines through its SEALMINER product line.