Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) Price Target at $30.33

Bitdeer Technologies Group (NASDAQ:BTDR) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and twelve have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $30.3333.

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities increased their price objective on shares of Bitdeer Technologies Group from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Jones Trading assumed coverage on shares of Bitdeer Technologies Group in a research note on Monday, October 6th. They issued a “buy” rating and a $32.00 target price for the company. Cantor Fitzgerald increased their target price on Bitdeer Technologies Group from $30.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 20th. Finally, BTIG Research restated a “buy” rating and issued a $25.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday, November 26th.

Bitdeer Technologies Group Stock Up 0.3%

Shares of Bitdeer Technologies Group stock opened at $12.65 on Friday. The company has a market capitalization of $2.68 billion, a P/E ratio of -2.25 and a beta of 2.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.74. The business has a 50-day moving average of $17.92 and a two-hundred day moving average of $15.13. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.06). The business had revenue of $169.71 million during the quarter, compared to analyst estimates of $151.80 million. Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. Bitdeer Technologies Group’s revenue for the quarter was up 173.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. As a group, equities analysts predict that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently bought and sold shares of the company. Value Aligned Research Advisors LLC raised its holdings in shares of Bitdeer Technologies Group by 65.6% in the third quarter. Value Aligned Research Advisors LLC now owns 1,378,789 shares of the company’s stock valued at $23,564,000 after purchasing an additional 546,280 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Bitdeer Technologies Group in the third quarter valued at $159,000. Central Asset Investments & Management Holdings HK Ltd bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $402,000. Two Seas Capital LP acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth about $7,690,000. Finally, Verition Fund Management LLC grew its holdings in shares of Bitdeer Technologies Group by 54.2% in the 3rd quarter. Verition Fund Management LLC now owns 67,662 shares of the company’s stock valued at $1,156,000 after acquiring an additional 23,784 shares in the last quarter. Institutional investors and hedge funds 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.