Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Down 6.8%

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) were down 6.8% during mid-day trading on Monday . The company traded as low as $5.89 and last traded at $5.92. Approximately 120,870 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,695,085 shares. The stock had previously closed at $6.35.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, March 26th. Benchmark reiterated a "buy" rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. B. Riley started 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 target for the company. 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 price objective on the stock. Finally, BTIG Research initiated coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, March 13th. They set a "buy" rating and a $15.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $13.64.

Bitdeer Technologies Group Stock Performance

The firm has a market capitalization of $675.18 million, a P/E ratio of -14.45 and a beta of 1.70. The stock has a 50 day moving average of $6.82 and a 200-day moving average of $6.45.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last posted its earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.15). The business had revenue of $114.85 million during the quarter. Bitdeer Technologies Group had a negative return on equity of 7.34% and a negative net margin of 15.37%. As a group, sell-side analysts expect that Bitdeer Technologies Group will post -0.07 EPS for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at $15,350,000. Van ECK Associates Corp increased its position in shares of Bitdeer Technologies Group by 196.2% during the fourth quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company's stock valued at $10,848,000 after buying an additional 728,804 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Bitdeer Technologies Group by 83.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company's stock worth $5,265,000 after buying an additional 243,245 shares in the last quarter. EDBI Pte Ltd bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at approximately $3,444,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $1,199,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

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.