Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 6.4%

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) were up 6.4% on Wednesday . The stock traded as high as $6.29 and last traded at $6.29. Approximately 170,281 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,499,444 shares. The stock had previously closed at $5.91.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BTDR shares. B. Riley began coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a "buy" rating and a $9.00 price objective on the stock. Benchmark reissued a "buy" rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. BTIG Research began coverage on Bitdeer Technologies Group in a research note on Wednesday, March 13th. They set a "buy" rating and a $15.00 price target for the company. Rosenblatt Securities started coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They set a "buy" rating and a $10.50 target price for the company. Finally, Roth Mkm started coverage on shares of Bitdeer Technologies Group in a report on Thursday, February 29th. They issued a "buy" rating and a $14.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Bitdeer Technologies Group has an average rating of "Buy" and a consensus target price of $13.64.

Bitdeer Technologies Group Trading Down 0.2 %

The stock has a 50 day moving average price of $6.41 and a 200 day moving average price of $6.69. The company has a market capitalization of $660.62 million, a P/E ratio of -14.56 and a beta of 1.79.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last released its earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.15). Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. The company had revenue of $114.85 million for the quarter. On average, research analysts predict that Bitdeer Technologies Group will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BTDR. Virtu Financial LLC purchased a new position in Bitdeer Technologies Group during the first quarter valued at $431,000. Vident Advisory LLC boosted its position in shares of Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company's stock valued at $6,098,000 after acquiring an additional 565,362 shares during the last quarter. Van ECK Associates Corp raised its position in Bitdeer Technologies Group by 10.5% during the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company's stock valued at $8,537,000 after purchasing an additional 115,882 shares during the period. Nomura Holdings Inc. bought a new stake in Bitdeer Technologies Group in the fourth quarter worth $15,350,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Bitdeer Technologies Group during the 4th quarter valued at about $1,199,000. Hedge funds and other institutional investors 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.