Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 6.8%

Bitdeer Technologies Group (NASDAQ:BTDR) shares traded down 6.8% on Monday . The company traded as low as $5.89 and last traded at $5.92. 120,870 shares were traded during trading, a decline of 93% from the average session volume of 1,695,085 shares. The stock had previously closed at $6.35.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BTDR. Rosenblatt Securities started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 target price on the stock. Benchmark restated a “buy” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Monday, April 15th. Needham & Company LLC assumed coverage on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. They set a “buy” rating and a $14.00 price target for the company. B. Riley initiated coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They issued a “buy” rating and a $9.00 target price for the company. Finally, Roth Mkm initiated coverage on shares of Bitdeer Technologies Group in a report on Thursday, February 29th. They issued a “buy” rating and a $14.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.64.

Bitdeer Technologies Group Stock Down 4.4 %

The business’s 50 day moving average is $6.82 and its 200-day moving average is $6.45. The firm has a market cap of $679.66 million, a P/E ratio of -14.09 and a beta of 1.70.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.15). Bitdeer Technologies Group had a negative net margin of 15.37% and a negative return on equity of 7.34%. The business had revenue of $114.85 million for the quarter. As a group, equities analysts predict that Bitdeer Technologies Group will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group during the third quarter valued at $49,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Bitdeer Technologies Group in the third quarter worth about $150,000. Vontobel Holding Ltd. acquired a new stake in Bitdeer Technologies Group in the fourth quarter worth about $240,000. Swiss National Bank acquired a new stake in Bitdeer Technologies Group in the third quarter worth about $604,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Bitdeer Technologies Group in the fourth quarter worth about $1,199,000. Institutional investors and hedge funds 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.