Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $10.64, but opened at $11.27. Bitdeer Technologies Group shares last traded at $11.6210, with a volume of 1,572,712 shares changing hands.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Cantor Fitzgerald raised shares of Bitdeer Technologies Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $15.00 to $18.00 in a research note on Wednesday, August 5th. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bitdeer Technologies Group in a report on Thursday, August 13th. Needham & Company LLC decreased their price target on Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Finally, Citizens Jmp assumed coverage on Bitdeer Technologies Group in a report on Wednesday, June 24th. They set a “market outperform” rating and a $35.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Bitdeer Technologies Group currently has an average rating of “Moderate Buy” and an average price target of $24.00.
View Our Latest Analysis on Bitdeer Technologies Group
Bitdeer Technologies Group Stock Performance
Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share for the quarter. The company had revenue of $228.78 million for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. On average, research analysts predict that Bitdeer Technologies Group will post -1.72 earnings per share for the current year.
Insider Buying and Selling at Bitdeer Technologies Group
In other news, CFO Michael G. Potter purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $9.04 per share, for a total transaction of $226,000.00. Following the completion of the purchase, the chief financial officer owned 25,000 shares in the company, valued at approximately $226,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Haris Basit acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $8.84 per share, with a total value of $221,000.00. Following the completion of the acquisition, the insider directly owned 35,000 shares of the company’s stock, valued at $309,400. This represents a 250.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Bitdeer Technologies Group by 57.3% in the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after purchasing an additional 902 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Bitdeer Technologies Group by 9.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 33,940 shares of the company’s stock valued at $294,000 after purchasing an additional 2,950 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth $66,000. Royal Bank of Canada grew its stake in Bitdeer Technologies Group by 80.2% during the 1st quarter. Royal Bank of Canada now owns 9,548 shares of the company’s stock worth $83,000 after buying an additional 4,250 shares during the last quarter. Finally, CI Investments Inc. increased its position in Bitdeer Technologies Group by 40.5% during the 1st quarter. CI Investments Inc. now owns 15,424 shares of the company’s stock valued at $133,000 after buying an additional 4,447 shares in the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.
Bitdeer Technologies Group Company Profile
Bitdeer Technologies Group is a Singapore-based technology company focused on cryptocurrency mining and high-performance computing. The company operates an integrated platform that includes digital asset mining, mining-machine hosting and hash-rate sharing services for institutional and individual customers.
Bitdeer also develops proprietary cryptocurrency-mining hardware under the SEALMINER brand. Its activities span the design, production and deployment of application-specific integrated circuit (ASIC) mining machines, as well as the operation of data centers that support its own mining activities and hosting customers.
The company operates data-center and mining infrastructure across multiple international markets, including North America, Europe and Asia.
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