Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $17.00 at HC Wainwright

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective reduced by HC Wainwright from $20.00 to $17.00 in a research report released on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Bitdeer Technologies Group’s Q3 2024 earnings at ($0.20) EPS, Q4 2024 earnings at ($0.16) EPS and FY2024 earnings at ($0.49) EPS.

BTDR has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a buy rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Wednesday, May 15th. Benchmark raised their price objective on shares of Bitdeer Technologies Group from $13.00 to $16.00 and gave the stock a buy rating in a report on Monday, July 22nd. B. Riley boosted their price target on Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a buy rating in a report on Friday, July 12th. Cantor Fitzgerald raised shares of Bitdeer Technologies Group to a strong-buy rating in a research note on Wednesday, June 12th. Finally, Roth Mkm reaffirmed a buy rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bitdeer Technologies Group presently has an average rating of Buy and a consensus price target of $14.00.

Bitdeer Technologies Group Stock Performance

BTDR opened at $6.33 on Tuesday. The firm’s fifty day moving average is $9.53 and its two-hundred day moving average is $7.70. The firm has a market cap of $708.74 million, a PE ratio of -15.44 and a beta of 1.96. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, May 13th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). The business had revenue of $119.51 million for the quarter, compared to analyst estimates of $119.12 million. Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. Equities analysts forecast that Bitdeer Technologies Group will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently added to or reduced their stakes in BTDR. Millennium Management LLC lifted its stake in shares of Bitdeer Technologies Group by 901.0% during the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after buying an additional 369,363 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Bitdeer Technologies Group during the second quarter worth approximately $4,510,000. Marshall Wace LLP acquired a new position in shares of Bitdeer Technologies Group in the second quarter valued at approximately $5,074,000. D1 Capital Partners L.P. bought a new position in shares of Bitdeer Technologies Group during the second quarter worth approximately $5,386,000. Finally, Symmetry Investments LP acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth approximately $432,000. 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.