Bitdeer Technologies Group (NASDAQ:BTDR) Stock Has Average Price Target of $21.80

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $21.80.

Several equities research analysts have weighed in on BTDR shares. Keefe, Bruyette & Woods cut their target price on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, August 13th. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Tuesday, August 11th. Rosenblatt Securities reissued a “buy” rating and issued a $25.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, September 15th. HC Wainwright restated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, October 2nd. Finally, Weiss Ratings cut Bitdeer Technologies Group from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd.

Insider Activity at Bitdeer Technologies Group

In other Bitdeer Technologies Group news, CFO Michael Potter bought 25,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $9.04 per share, with a total value of $226,000.00. Following the completion of the acquisition, the chief financial officer owned 25,000 shares of the company’s stock, valued at $226,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Haris Basit acquired 25,000 shares of the stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $8.84 per share, with a total value of $221,000.00. Following the completion of the transaction, the insider owned 35,000 shares of the company’s stock, valued at approximately $309,400. This represents a 250.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTDR. Fund Resources Investment Holding Group Co Ltd lifted its holdings in shares of Bitdeer Technologies Group by 3.0% during the 1st quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock worth $81,660,000 after acquiring an additional 276,098 shares during the last quarter. Situational Awareness LP lifted its stake in Bitdeer Technologies Group by 92.4% during the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after purchasing an additional 1,651,450 shares during the last quarter. Bank of America Corp DE lifted its stake in Bitdeer Technologies Group by 1,366.7% during the first quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock worth $27,919,000 after purchasing an additional 3,007,523 shares during the last quarter. Bank of Nova Scotia boosted its stake in Bitdeer Technologies Group by 91.1% in the first quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock worth $11,846,000 after buying an additional 652,874 shares in the last quarter. Finally, BlueCrest Capital Management Ltd raised its stake in shares of Bitdeer Technologies Group by 5,167.0% during the second quarter. BlueCrest Capital Management Ltd now owns 506,700 shares of the company’s stock worth $8,041,000 after acquiring an additional 516,700 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $7.54 on Wednesday. The company has a market capitalization of $1.71 billion, a PE ratio of -2.46 and a beta of 2.56. Bitdeer Technologies Group has a one year low of $6.64 and a one year high of $25.28. The company’s fifty day moving average price is $10.41 and its 200 day moving average price is $11.78.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Tuesday, June 30th. The company reported ($0.37) EPS for the quarter. The company had revenue of $228.78 million during the quarter. Analysts anticipate that Bitdeer Technologies Group will post -1.68 earnings per share for the current year.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. The company operates a vertically integrated platform that includes cryptocurrency mining, miner hosting, and hash rate sharing services, allowing customers to participate in digital asset mining without managing all of the underlying hardware and facilities.

Bitdeer conducts self-mining operations and provides data center services for mining equipment. It also develops and manufactures application-specific integrated circuit (ASIC) mining machines through its SEALMINER product line, with the goal of improving mining performance and energy efficiency.