Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down to $11.61

Bitdeer Technologies Group (NASDAQ:BTDR) shares gapped down prior to trading on Wednesday . The stock had previously closed at $11.61, but opened at $11.22. Bitdeer Technologies Group shares last traded at $11.15, with a volume of 367,776 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on BTDR shares. Rosenblatt Securities assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 target price on the stock. BTIG Research started coverage on shares of Bitdeer Technologies Group in a report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 price objective on the stock. B. Riley initiated coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a “buy” rating and a $9.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, May 15th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $13.56.

Bitdeer Technologies Group Stock Down 0.3 %

The stock has a 50 day simple moving average of $7.19 and a two-hundred day simple moving average of $7.37.

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

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently modified their holdings of BTDR. Van ECK Associates Corp boosted its position in shares of Bitdeer Technologies Group by 196.2% during the 4th quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock worth $10,848,000 after purchasing an additional 728,804 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Bitdeer Technologies Group by 83.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after purchasing an additional 243,245 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Bitdeer Technologies Group in the 4th quarter valued at approximately $15,350,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Bitdeer Technologies Group by 149.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after buying an additional 23,310 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Bitdeer Technologies Group during the fourth quarter worth $1,199,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.