Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 5.5%

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) fell 5.5% during mid-day trading on Monday . The stock traded as low as $6.38 and last traded at $6.51. 93,122 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,979,898 shares. The stock had previously closed at $6.89.

Wall Street Analyst Weigh In

Several analysts recently commented on BTDR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Benchmark reaffirmed a “buy” rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Roth Mkm reiterated a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, July 1st. Rosenblatt Securities reissued a “buy” rating and set a $9.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $14.00.

Bitdeer Technologies Group Trading Down 2.3 %

The firm’s fifty day moving average is $8.21 and its 200 day moving average is $7.53. The company has a market cap of $753.53 million, a PE ratio of -16.80 and a beta of 1.90.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The company had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $110.79 million. Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. As a group, sell-side analysts anticipate that Bitdeer Technologies Group will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently made changes to their positions in the company. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Bitdeer Technologies Group in the second quarter worth approximately $272,000. XTX Topco Ltd acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth $276,000. Symmetry Investments LP purchased a new stake in shares of Bitdeer Technologies Group during the second quarter worth $432,000. Virtu Financial LLC purchased a new position in shares of Bitdeer Technologies Group in the first quarter worth about $431,000. Finally, Thomist Capital Management LP acquired a new position in Bitdeer Technologies Group during the second quarter worth about $1,156,000. 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.