Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) had its price target raised by equities researchers at Rosenblatt Securities from $18.00 to $25.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 69.49% from the company’s previous close.
BTDR has been the topic of a number of other reports. Needham & Company LLC increased their price target on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $14.00 price target (down from $26.50) on shares of Bitdeer Technologies Group in a research report on Tuesday, January 27th. HC Wainwright decreased their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Monday, April 20th. Finally, Benchmark decreased their price target on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and an average price target of $25.10.
Get Our Latest Research Report on BTDR
Bitdeer Technologies Group Trading Up 11.6%
Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The company had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.75 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The company’s revenue for the quarter was up 169.5% on a year-over-year basis. Equities analysts anticipate that Bitdeer Technologies Group will post -1.06 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fund Resources Investment Holding Group Co Ltd boosted its position in shares of Bitdeer Technologies Group by 3.0% in 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 purchasing an additional 276,098 shares during the last quarter. Bank of America Corp DE raised its stake in Bitdeer Technologies Group by 67.5% during the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after buying an additional 2,553,093 shares during the period. Value Aligned Research Advisors LLC raised its stake in Bitdeer Technologies Group by 137.0% during the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock worth $36,630,000 after buying an additional 1,888,825 shares during the period. State Street Corp raised its stake in Bitdeer Technologies Group by 34.1% during the 4th quarter. State Street Corp now owns 3,144,782 shares of the company’s stock worth $35,253,000 after buying an additional 800,003 shares during the period. Finally, UBS Group AG raised its stake in Bitdeer Technologies Group by 2.4% during the 4th quarter. UBS Group AG now owns 2,246,381 shares of the company’s stock worth $25,182,000 after buying an additional 52,808 shares during the period. 22.25% of the stock is currently owned by institutional investors.
About Bitdeer Technologies Group
Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.
Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.
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