Bitdeer Technologies Group (NASDAQ:BTDR) Given New $30.00 Price Target at HC Wainwright

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lowered by analysts at HC Wainwright from $32.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 69.97% from the company’s current price.

BTDR has been the subject of several other reports. BTIG Research upped their price objective on shares of Bitdeer Technologies Group from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 20th. Cantor Fitzgerald raised their price objective on shares of Bitdeer Technologies Group from $30.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, October 8th. Finally, Jones Trading began coverage on Bitdeer Technologies Group in a research report on Monday, October 6th. They issued a “buy” rating and a $32.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bitdeer Technologies Group has an average rating of “Moderate Buy” and a consensus target price of $29.33.

Bitdeer Technologies Group Trading Down 19.7%

NASDAQ BTDR opened at $17.65 on Tuesday. The stock has a market cap of $3.74 billion, a P/E ratio of -3.76 and a beta of 2.28. Bitdeer Technologies Group has a fifty-two week low of $6.84 and a fifty-two week high of $27.80. The stock has a 50 day simple moving average of $19.08 and a two-hundred day simple moving average of $15.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Monday, November 10th. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative net margin of 89.77% and a negative return on equity of 55.73%. The business had revenue of $169.71 million for the quarter, compared to the consensus estimate of $151.80 million. During the same quarter in the prior year, the company earned ($0.35) EPS. Bitdeer Technologies Group’s revenue was up 173.7% compared to the same quarter last year. On average, analysts forecast that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Bitdeer Technologies Group by 67.5% during the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after buying an additional 2,553,093 shares during the last quarter. Geode Capital Management LLC lifted its stake in Bitdeer Technologies Group by 197.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after acquiring an additional 1,057,552 shares during the period. FengHe Fund Management Pte. Ltd. lifted its stake in Bitdeer Technologies Group by 178.2% during the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company’s stock valued at $11,763,000 after acquiring an additional 853,300 shares during the period. Capital Fund Management S.A. purchased a new stake in shares of Bitdeer Technologies Group during the 1st quarter valued at about $6,835,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Bitdeer Technologies Group by 5,771.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company’s stock worth $8,700,000 after acquiring an additional 744,956 shares during the period. Hedge funds and other 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.